The koruna weakened against the euro and the dollar, the stock market weakened after three days of growth

Money, euro , Czech crown, banknotes, coins – illustration photo.

Prague – The Czech currency weakened against both major world currencies on Thursday. Compared to the previous close, the euro lost six pennies to 23.44 CZK/EUR, and the dollar lost 18 pennies to 22.10 CZK/USD. This follows from data on the Patria Online server. The Prague Stock Exchange weakened for the first time this week.

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On Wednesday, the koruna reached its strongest level against the euro since July 2008, when it strengthened to 23.38 CZK/EUR. Today, it wiped out part of the profits. However, the Czech currency has been gradually strengthening against the euro since roughly last fall. Since mid-October 2022, it has thus improved against the euro, despite today's weakening by more than one crown.

On Thursday, the PX stock market index fell by 0.56 percent to 1413.38 points. Of the main titles, only one rose, namely the shares of the insurance company Vienna Insurance Group (VIG). This follows from the data on the stock exchange website. According to Fio Bank's broker Josef Dudek, Wednesday's declines overseas and morning losses on Western European exchanges had a negative impact on the stock market.

Six out of ten titles affecting the value of the PX index finished trading in a loss. The emissions of the energy company ČEZ, the bank Moneta and the beverage company Kofola stagnated.

The most significant decline affected the shares of the operator of the pharmaceutical chain Pilulka Lékárna. They became cheaper by almost six percent to CZK 630.

Due to the large volume of sales, the weakening of the securities of the Erste banking group had a more pronounced effect on the stock market index. Trading closed at a price of 846 crowns per share, which represented a decrease of 1.74 percent. The shares of Komerční banka did not fare well either, falling by 0.87 percent to CZK 742.

On the contrary, the shares of the Austrian insurance company VIG went up. Their closing price of CZK 628 per piece was 0.32 percent higher than when the exchange opened in the morning.

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