After the strongest weekly drop in almost half a year, this week the Prague Stock Exchange rode a wave of optimism. The PX index closed each day in the green. In the end, overall, it improved by 1.41%, although despite attempts to grow above the 1,400 points mark, it was unable to close above it. In any case, compared to Europe, he actually went his own way again, or the broader Euro STOXX 600 index added just 0.3% in comparison. In our country, only 2 issues lost from the index.
New 20-month lows without new news were recorded by PHOTON ENERGY shares, which managed to strengthen only on Friday after five losing sessions in a row. Although shares of PHILIP MORRIS continued to try to recover from 2-year lows, it was the end of Friday’s session that finally took away the weekly gains.
PILULKA shares suffered losses for the seventh week in a row, but they are no longer part of the PX index. Following the quarterly update and the December price increase, KB shares are now in the lead. Despite Thursday’s rate cut from parties CNB, which was widely expected, also did well for other bank stocks. MONETA shares even hit new near 20-month highs as they improved to all-time highs in the PX index. Their weight exceeds 16.5%. ERSTE shares tried to pare losses from the previous week when data released by the bank revealed that it had stepped up its buyback of its own shares. That is, only in the last two days, Thursday and Friday, when she bought a total of 133 thousand. ERSTE shares. In the previous days, it bought back only a symbolic approx. 1,500 shares. By the middle of the month, the bank had repurchased over 8 million of its own shares, for which it issued EUR 268 million. If it did not buy significantly in the past week, it seems very likely that the planned EUR 300 million purchase will not be fulfilled this year. It can be added that the second Austrian VIG title in Vienna showed above-average volatility and finally returned here to the highs of recent months. In our country, however, on Friday it ended at a more than 2-year high, when the weaker crown against the euro played its part in the meantime.
In the end, the main title – ČEZ – also took care of the growth of the Prague Stock Exchange, although its influence decreased after the quarterly update of the PX index. Currently, its weight is 18.8%. In any case, CEZ shares first looked at new 3-month lows at the beginning of the week, bottoming out at CZK 914. Developments in monitored electricity prices, which also tried to catch their breath during the week, could have contributed to the turnaround. On the day market, however, they headed significantly south for the weekend. Thanks to the holidays, and therefore significantly reduced consumption. In addition, the windy weather certainly contributes to above-average production from windmills, especially in Germany. In short, on Christmas Day, electricity prices for the afternoon hours went negative. At least at 5 p.m., when a bonus of EUR 17/MWh will actually be paid for the consumption of power electricity.
In any case, the regulatory report revealed that the world’s largest investment group BlackRock maintains a stake in the domestic energy company. Compared to the last previous report from June, although its total share fell slightly from 1.19% to 1.17%, on the other hand, it now owns more than a percent of ČEZ shares themselves (1.03% compared to 0.96% previously). Otherwise, BlackRock slightly reduced its investment in financial instruments tied to CEZ shares from 0.24% to 0.14%.
It is also possible to mention the regulatory report on KOFOLA shares, where it finally became clear after the correction that the board member Marián Šefčovič was only selling the company’s shares in the previous week. And he continued even this Monday. In short, in December he got rid of 2,264 KOFOLA shares for roughly 614,000. CZK.
In any case, COLT shares did the most during the week. In short, investors were impressed by the announced significant acquisition of the domestic traditional manufacturer of small caliber ammunition Sellier & Bellot. It can be valued at CZK 14.8 billion, however, as a follow-up, it is not yet entirely clear how this will affect, for example, a possible change in the amount of COLT’s dividend.
It is certainly worth mentioning this year’s new maximum of GEN DIGITAL shares, which actually still maintain a positive development on the home Wall Street despite short-term respites.
The Prague Stock Exchange has the last 3 sessions left this year, which it enters with an appreciation of almost 16.5%, or even 26.8% after taking into account the dividends paid (according to the PX-TR index). In short, according to the PX index alone, the vast majority of losses from the previous year, 2022, have been stepped on.
2023-12-24 10:29:31
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