The Prague Stock Exchange ended at the highest value since 2008, i.e. in almost 16 years

Commercial presentation Update: 23/04/2024 17:12
Issued by: 23/04/2024, 17:12

Prague – The Prague Stock Exchange closed today at the highest value since mid-June 2008, i.e. the strongest in the last almost 16 years. The PX index increased by 0.49 percent to 1564.82 points. It was mainly driven up by banking houses. Erste Bank, Komerční banka and Moneta Money Bank did well. On the contrary, the securities of the energy company ČEZ weakened. This follows from trading data on the exchange’s website. The Czech koruna strengthened against both major world currencies today.

Of the 11 issues affecting the value of the PX index, six closed today’s trading with a profit. “The volume of deals was above average, approximately 730 million crowns, of which over 600 million crowns were procured by bank securities,” Wood & Company analyst Vladimír Vávra commented on today’s results.

“According to the number of traded shares, Moneta’s shares were the most successful today. They are traded with the right to a dividend, which the bank’s general meeting approved today in the amount of nine crowns per share,” added the commentator. The Money Bank coin grew by 0.98 percent to CZK 103.

Erste Bank shares improved by 1.36 percent to CZK 1,115, and according to KB analyst Bohumil Trampota, Erste became the most traded title with a share of almost 40 percent of the total volume of the stock exchange. Komerční banka added 1.04 percent to CZK 872. Insurance company VIG also did well, improving by 0.95 percent to CZK 745. Shares of Photon Energy, which deals with the construction and operation of photovoltaic power plants, gained 0.44 percent to CZK 45.60.

Energy group ČEZ, which has been falling for five days in a row, ended today’s trading with a loss of 1.16 percent at CZK 855. The tobacco company Philip Morris did not do well either, which wrote off 0.88 percent and traded at CZK 15,840. Shares of the arms company Colt lost 0.32 percent to CZK 628. Beverage company Kofola stagnated at the level of CZK 273.

The koruna strengthened against both major world currencies today

The Czech crown strengthened today. Against the euro, it was three pennies at 25.25 CZK/EUR compared to Monday’s close. The Czech currency then improved by 14 halers against the dollar. At 17:00, according to the server Patria Online, it traded at 23.61 CZK/USD.

In the near future, the koruna will probably be mainly influenced by the meeting of the banking board of the Czech National Bank (ČNB), at which a decision will be taken on the possible further adjustment of interest rates. It will take place on May 2. CNB Governor Aleš Michl said today at the Discussion Forum in Pardubice that the central bank may reduce rates next week, but after that it will approach further reductions very cautiously.

At its last meeting in mid-March, the CNB board reduced the base interest rate by half a percentage point to 5.75 percent. Two of the seven members of the bank board proposed a rate drop of up to 5.5 percent.

The CNB started easing its monetary policy last December, when in the first step it lowered the base interest rate by a quarter of a percentage point to 6.75 percent. Before that, rates were unchanged at seven percent for a year and a half. In February of this year, the CNB accelerated its rate reduction, when it went for a decrease of half a percentage point.

Exchange rate of the Czech currency:

Source: Patria Online

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