The koruna stagnated against the euro, the stock exchange is the strongest in nine and a half months

Prague Stock Exchange, Stock Exchange Palace – illustration photo.

Prague – The Czech currency stagnated against the euro on Wednesday and traded at 23.76 CZK/EUR around 17:00. Against the dollar, it strengthened by seven pennies to 22.16 CZK/USD. This follows from data from the Patria Online server around 5:00 p.m. today. The Prague Stock Exchange is the strongest in nine and a half months, mainly helped by the shares of Erste and ČEZ.

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“Trading on the main foreign exchange markets was very calm during today's European session,” said Komerční banka analyst Martin Gürtler. “The exchange rate of the euro against the US dollar thus moved in a very narrow band around 1.074 USD/EUR. It was similar with the Czech crown, whose exchange rate stagnated near 23.77 CZK/EUR,” he added. The koruna thus remains at record strong levels against the euro.

On Wednesday, the index of the Prague Stock Exchange strengthened by 1.39 percent to 1374.8 points. It is its highest closing value in the last nine and a half months. Its growth today was mainly helped by the issues of the banking group Erste and the energy company ČEZ. This follows from data on the stock exchange's website.

Eight out of ten titles that influence the PX index finished trading with a profit. Thanks to them, it closed at the highest since April 22 last year.

Erste Bank shares recorded the most significant increase. They rose in price by 2.73 percent to 858 crowns per piece.

The semi-state electricity producer also made a significant contribution to the growth of the index. “ČEZ strengthened for the sixth time in a row, today it added another 1.81 percent to CZK 954 with the highest daily volume of CZK 349 million,” said Fio bank's broker Josef Dudek.

Komerční banka also did well. Its shares strengthened by 0.75 percent to 743.50 crowns per piece. In the morning, the bank announced that its net profit last year increased by 37.9 percent year-on-year to 17.6 billion crowns. “The reason for today's rather tepid reaction of the shares may be the announced management outlook for this year, which did not bring significant surprises compared to the consensus estimates of analysts,” said the broker of Wood & Company Vladimír Vávra.

The only losing stock on the Prague Stock Exchange today was Kofola. Its shares fell by 0.39 percent to CZK 253. Securities of the Pilulka Lékárny pharmaceutical chain stagnated.

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