The koruna strengthened against the euro and the dollar, the Prague stock exchange weakened slightly

Banknotes – euros – dollars – koruna.

Prague – The Czech currency strengthened against the euro and the dollar today. As of 17:00, the koruna strengthened compared to the previous close by six halers against the euro to 23.99 CZK/EUR and against the dollar by 11 halers to 22.54 CZK/USD. This follows from data on the Patria Online server. The Prague Stock Exchange fell for the second week in a row. The PX index lost 4.26 percent to 1317.55 points.

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Financial markets have been negatively affected in recent days by concerns over the collapse of two US banks, Silicon Valley Bank and Signature Bank, and the possible difficulties of the Swiss bank Credit Suisse. “Negative sentiment and higher risk aversion did not benefit the currencies of the Central European region either. The worst was the Hungarian forint, which lost roughly four percent against the euro during the week. It was followed by the Czech crown, which weakened by approximately one percent to the level of CZK 24/EUR,” said Komerční analyst bank Martin Gürtler.

The failure of Silicon Valley Bank was announced on March 10, and the failure of Signature Bank three days later. Before these reports, the Czech currency was 23.63 CZK/EUR against the euro on March 9. Subsequently, it weakened to 24.05 CZK/EUR. Today, however, she erased part of the losses.

The Prague Stock Exchange weakened slightly at the end of the week. The PX index fell by 0.08 percent to 1317.55 points today. The shares of Austrian financial titles Erste Bank and insurance company VIG pulled it into the red. On the contrary, Komerční banka, Moneta and the energy company ČEZ did well. This follows from the data of the stock exchange website. For the whole week, the PX index ended in a loss of 4.26 percent, trading was affected by uncertainty in the banking sector.

Western European stock markets opened today's session in positive territory after major US banks agreed on a support program for First Republic Bank on Thursday. “Nevertheless, the positive sentiment gradually weakened and in the afternoon most European indices turned into negative territory,” said Fio bank's broker Josef Dudek. The Prague Stock Exchange made a profit of 1.3 percent during the day, but eventually closed with a slight loss.

Market activity was high. The total volume of transactions exceeded 1.7 billion crowns. “One billion was traded in the final auction in connection with the fact that the new base of the PX index comes into force from Monday,” Dudek noted. .08 percent to 1026 crowns. Moneta Money Bank improved by 1.59 percent to 83 crowns and Komerční banka by 1.4 percent to 690.50 CZK. The most successful title of the day was the pharmacy chain Pilulka, whose securities added 4.84 percent to 650 crowns.

On the contrary, the VIG insurance company fared the worst, when it wrote off 3.26 percent to 564 crowns. Erste Bank handed over 1.66 percent to 713 crowns. Shares of tobacco company Philip Morris CR and beverage company Kofola also ended in losses.

Czech currency exchange rate:

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Source: Patria Online

The Prague Stock Exchange lost for the second week in a row, the PX index fell by 4.26%

The Prague Stock Exchange fell for the second week in a row. The PX index lost 4.26 percent to 1,317.55 points, the deepest drop since mid-September. Bank stocks in particular weakened due to negative developments abroad, with Erste recording the biggest loss. Only the shares of ČEZ and Pilulka strengthened. This follows from the exchange's website. Last week, the Prague Stock Exchange weakened by 3.11 percent.

“Under the influence of nervousness in the banking sector on foreign markets, this week the Prague Stock Exchange recorded its deepest weekly drop since mid-September last year. Erste Bank shares were most affected by negative sentiment on foreign markets,” said broker Wood & Company Vladimír Vávra.

Erste wrote off 11.93 percent to 713 crowns. Pojišťovna VIG lost 7.54 percent to 564 crowns, Komerční banka fell by 5.6 percent to 690.50 crowns. Moneta depreciated by 1.54 percent to 83 crowns.

Non-bank securities also weakened. Shares of Zbrojovka Colt lost 0.17 percent to 587 crowns, shares of Kofola lost 1.61 percent to 245 crowns. After six weeks of growth, Philip Morris lost 1.61 percent this week to 17,140 crowns. Photon Energy lost 1.22 percent to 64.60 crowns.

“ČEZ shares remained relatively immune to the turbulence on foreign markets, which in the weekly balance even posted a gain of 2.6 percent to 1,026 crowns,” said Vávra . In addition to ČEZ, Pilulka shares also gained, increasing by 1.56 percent to 650 crowns.