The Prague Stock Exchange broke a streak of weakness, CEZ shares helped it to strengthen

Prague Stock Exchange, Stock Exchange Palace – illustrative photo.

Prague – The Prague Stock Exchange broke a series of losses today. The PX index rose by 0.68 percent to 1388.72 points after four consecutive declines. Shares of the energy company ČEZ helped the stock market to rise, which rose by almost four percent. It follows from the results of trading on the exchange's website.

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In green numbers, half of the main issues of the Prague Stock Exchange closed trading today, and the other half weakened or stagnated. Among the gainers, CEZ shares, which were also traded in the largest volume, recorded the most significant increase in price. They gained 3.86 percent to 995 crowns. The second largest increase was achieved by the securities of solar power plant builder Photon Energy, by 1.79 percent to 68.20 crowns.

On the other hand, the growth of the stock market was hindered by the issues of Komerční banka and Moneta Money Bank, which, together with CEZ shares, were among the most traded. Moneta securities fell by 1.05 percent to 85 crowns, which was the biggest weakening of the main issues. Komerční banka's shares lost 0.67 percent to 741 crowns.

The koruna stagnated against both major world currencies today

The koruna stagnated against both major world currencies today. Against the euro, it traded at 23.72 CZK/EUR around 17:00, i.e. at the same rate as at Monday's close. Against the dollar, the Czech currency improved by a penny to 22.18 CZK/USD. This follows from data from the Patria Online server.

In the middle of last week, the koruna hovered around the 23.60 CZK/EUR mark, making it the strongest against the euro since the end of July 2008. However, it weakened in the following days.

According to Purple Trading analyst Jaroslav Tupý, the koruna similarly on other risky assets, it is beginning to reflect traders' expectations that central banks will continue to raise interest rates. “And most importantly, banks will hold the current high interest rates for a significantly longer period of time than originally expected. The markets have accepted that inflation in both the US and the EU is gradually falling. The primary question that the markets are currently solving is not whether, but how quickly inflation will decrease,” he said.