After 17 years, the Prague Stock Exchange closed above 1,800 points, the koruna weakened

Prague – For the first time in 17 years, the Prague Stock Exchange closed above the 1,800 point mark. The PX index rose by 0.18 percent to 1802.14 points on Friday. Erste Bank shares added almost 1.5 percent. This follows from the exchange’s website. The Czech crown almost stagnated against the euro and weakened against the dollar.

The PX index reached its strongest level since the beginning of 2008 already on the first trading day of this year. In the following days, it mostly grew and gradually approached the 1,800 point mark. “It also means the sixth week of growth in a row,” pointed out Komerční banka analyst Bohumil Trampota. According to him, the PX index rose by 1.29 percent this week.

Shares in Prague traded without a clearly defined direction on Friday, said Martin Singer from Fio banka. “At the same time, the stock exchange was mainly kept in positive territory by Erste shares, which rose above the threshold of CZK 1,500 per share,” noted Wood & Company broker Vladimír Vávra.

Erste Bank’s securities improved by 1.44 percent to 1,515.50 crowns today. Moneta Money Bank shares also rose by 0.32 percent to CZK 127. “Despite initial signs of growth, Komerční banka ended at zero at a price of CZK 870,” pointed out Singer.

According to Singer, trading with the securities of the energy company ČEZ was interesting. “The market first sent shares to a local minimum of CZK 990, but before the final auction, buyers raised the price back to CZK 1,000,” he said. ČEZ ended the day with a decrease of one tenth of a percent at the level of 999 crowns.

The securities of the insurance company VIG fell by 1.43 percent to 759 crowns, while the shares of the arms manufacturer Colt CZ ended unchanged at 681 crowns. The securities of the Kofola beverage manufacturer rose by 0.75 percent to 405 crowns, and the tobacco company Philip Morris by 0.47 percent to 16,980 CZK.

The Prague Stock Exchange rose for the sixth week in a row, the PX index gained 1.3 percent in the week. Shares of Photon Energy strengthened the most in the past week, on the contrary, Pilulka recorded the biggest decline. In the previous holiday week, the PX index rose by one percent.

“The Prague Stock Exchange did well in the first regular week of January, thus extending its growth streak to six weeks in a row. The stock market rose on three out of five trading days, it was not successful only on Monday and Wednesday. On Friday, it ended trading above the 1,800 point mark, for the first time since January 2, 2008,” said Wood & Company broker Vladimír Vávra.

During the week, Photon Energy shares rose by 4.8 percent to CZK 26.20. However, Erste shares had a more significant influence on trading, which added 3.45 percent to CZK 1,515.50 in a week-on-week comparison. Moneta shares also did well, growing by 2.42 percent to CZK 127, and Philip Morris securities, which added 1.56 percent to CZK 16,980. Komerční banka’s shares followed closely behind, rising by 1.52 percent to CZK 870 during the week. The value of Kofola shares rose by 1.5 percent to CZK 405. At the same time, the title has been growing for seven weeks. Shares of the arms manufacturer Colt rose by 0.74 percent to CZK 681.

Pilulka’s shares have been falling for eight weeks, in the last one they lost 21.86 percent to CZK 84. VIG shares followed with a decrease of 1.04 percent to CZK 759. Primoco shares weakened by 0.56 percent to CZK 895 and CEZ shares by 0.5 percent to CZK 999. Gevorkyan’s securities did not change their price in a week-to-week comparison.

At the end of the week, the koruna weakened against both world currencies, only slightly against the euro. Around 17:00 it traded at 25.09 CZK/EUR and 24.49 CZK/USD. It lost a penny against the single European currency against Thursday and lost 14 against the US currency. This follows from data on the Patria Online server.

According to Purple Trading analyst Jaroslav Tupé, the koruna reacted to the results from the American labor market. “The initial expectations of analysts were rather worse results. The labor market in the USA eventually proved to be strong and exceeded analysts’ expectations. The US dollar strengthened, and this pushed the koruna into slightly weaker positions,” he said.

Compared to the euro, according to Martin Gürtler from Komerční banka, the Czech currency improved by 0.2 to 0.3 percent in a week-on-week comparison. “Weak data from the domestic industry thus largely escaped without a reaction to the exchange rate of the domestic currency,” he pointed out.

Analysts remind us that on Monday the Czech Statistical Office will publish the results of inflation in the Czech Republic for last December. “If inflation were to significantly exceed the expected three percent, it would help the koruna to stay at stronger values ​​below CZK 25.10/EUR,” says Jaroslav Tupý.

Exchange rate of the Czech currency:

Source: Patria Online

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