The Prague Stock Exchange weakened today, CEZ shares fell below 1,000 crowns

>> Prague Stock Exchange. Illustrative photo.

Prague – The Prague Stock Exchange weakened today, the PX index fell by 1.44 percent to 1400.07 points. He was dragged down by the shares of the energy company ČEZ, which fell by more than four percent and fell below the threshold of 1,000 crowns. Bank stocks also weakened, on the contrary, beverage company Kofola, insurance company VIG or pharmacy chain Pilulka did well, according to information on the stock exchange's website. The koruna weakened against the euro and the dollar today.

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CEZ issues weakened below the 1,000 crown mark, specifically by 4.56 percent to 994.50 CZK. “For the second day in a row, we witnessed relatively strong profit-taking in ČEZ shares. During the first two hours of trading, the shares fell relatively briskly by around 50 crowns, while buying support only became noticeable at the levels of 990 to 1,000 crowns per share,” stated the broker Wood & Company Vladimír Vávra.

Bank stocks also faced a sell-off. Erste shares fell by 0.92 percent to 862 crowns, Komerční banka securities fell by 0.93 percent to 748 CZK and Monety by 1.65 percent to 83.30 CZK. VIG shares, which rose by 1.63 percent to 624 crowns, Kofola securities rose by 0.4 percent to 251 crowns. Pilulka issues rose by 3.97 percent to 655 crowns.

The Czech crown weakened against the euro and the dollar today

The Czech crown weakened against the euro and the dollar today. The single European currency closed at 23.57 CZK/EUR, a penny weaker than on Monday evening. It lost 18 halers against the dollar to 22.24 CZK/USD. It follows from the data of the <a href=”https://www.patria.cz/kurzy/online/meny.html”>server </a>Patria Online around 17:00 today.

According to Purple Trading analyst Jaroslav Tupé, the koruna does not yet tend to return to strong values. “The Czech koruna is awaiting the inflation announcement for February 2023 on Friday, and above all, the meeting of the European Central Bank next Thursday will be interesting for the further development of the koruna. Here, another upward adjustment of the base interest rate is expected,” says the analyst, according to whom this could have a negative effect on the koruna .

Czech currency rate:

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22.06

Source: Patria Online