Prague – The koruna weakened significantly against the dollar today. Compared to Wednesday’s close, it lost 27 pennies to 24.65 CZK/USD. On the contrary, the Czech currency strengthened slightly against the euro. At 17:00, according to the Patria Online server, it traded at 24.48 CZK/EUR. The Prague Stock Exchange lost today. The PX index weakened by 1.71 percent to 1153.79 points.
S&P Global reported today that conditions in the Czech manufacturing sector worsened in August due to a further reduction in production volumes and new orders. The Purchasing Managers’ Index (PMI) was the same as in July at 46.8 points. This was the second largest decline since June 2020.
“On the other hand, the further decline in electricity prices in Germany can help the crown, which will lessen the fear of a deeper recession,” said Patria Finance analyst Tomáš Vlk.
The Prague Stock Exchange lost at the beginning of the new month. The PX index weakened today by 1.71 percent to 1153.79 points. None of the main missions were profitable, Austrian financial titles lost the most. This follows from data on the stock exchange website.
Nine out of ten issues affecting the value of the index suffered a loss today. Only the shares of the pharmaceutical chain Pilulka Lékárna stagnated.
The shares of the Erste banking group lost the most, dropping by 3.24 percent to CZK 537 per share. The securities of the Austrian insurance company VIG did not do well either. Their closing price of 560 crowns was 2.27 percent lower than when the stock exchange opened in the morning.
Moneta Money Bank and the energy company ČEZ also contributed to the decline in the stock market index. The Moneta issue depreciated by 1.81 percent, CEZ shares weakened by 1.32 percent.
Exchange rate of the Czech currency:
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Source: Patria Online
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