Further decline on the Prague Stock Exchange, Erste Bank ahead of results -4.33%

30.7.2020 16:37

Western European markets today registered deep losses after the German economy fell more than expected in 2Q and the situation regarding the spread of coronavirus is deteriorating, so the economic recovery may not be as fast as expected. The Prague Stock Exchange also failed, weakening for the eighth time in a row. The decline accelerated and the PX index eventually depreciated -3.00% to 876 points, the lowest value since May. Financial emissions became the driving force behind the decline on the Prague Stock Exchange, when this sector was one of the worst in Western European markets. Erste Bank thus depreciated -4.33% to CZK 513 and Moneta Money Bank depreciated -1.52% to CZK 52. Both of these banks will report their financial results tomorrow before the market opens. Komerční banka then fell by -3.88% to CZK 520 and insurance company Vig lost -4.31% to CZK 486. Avast also registered a strong selection of profits (CZK 161 -3.92%). The eighth decline in a row was recorded by Čez (CZK 445 -1.77%).

Josef Dudek, broker, Fio banka, as

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