The Prague Stock Exchange was trying to gain momentum until the middle of the week, when even on foreign markets there was more optimism compared to previous weeks. However, the second half of the week in particular brought a return to the south direction and the Prague Stock Exchange found itself at more than monthly lows. The PX index finally ended the week at 1,340 points, thus writing off a total of 0.75%. This year’s profits further shrunk to 11.5%. After including dividends, i.e. according to the PX-TR index, to 21.4%.
Institutional investors seem to be preparing for the regular quarterly index update in September. However, the prices from the end of August will be authoritative for the changes, and it was clear on Thursday that there was overselling from the big players. MONETA shares became the biggest loser of the week, although they were able to moderate some of the losses on Friday. The second biggest loser, KB, performed similarly, trading at its lowest level since mid-July on Thursday. It maintained its relatively regular position as the second most traded title on the Prague Stock Exchange. The third bank title ERSTE finished in the red neutrally, trading at the highest level since mid-August in mid-week in home-determining Vienna. The bank most likely continued to buy back its own shares, which should be confirmed by its report at the beginning of the week.
You can follow up with VIG shares, which also ended the week in the red. At the same time, the economic results published on Wednesday confirmed the positive data previously presented by the insurance company. In any case, the title actually confirmed in home Vienna that the level of EUR 24.70 is a significant technical support boundary. However, in our case, the title remained deplorable liquidity.
In fact, CEZ shares were also below average, even though the title took care of half of all trades on the Prague Stock Exchange. So he maintained his dominance in liquidity. The published comprehensive half-yearly report of the energy company revealed that financier Pavel Tykač owned 2.23% of ČEZ shares in CDCP through the company Belviport on the decisive date for the general meeting in June. Thus, compared to the end of last year, it increased its share by exactly half a percentage point. What is new, however, is the significant holding of shares from parties PPF bank, which at the same time never reported to the regulator a qualified share of more than one percent of CEZ’s voting rights. At the same time, 1.95% of ČEZ shares were in her CDCP account. The shares thus had to be held at least in part (as custody) for other end owners. The traditional custody accounts of Clearstream Banking (1.52%) and Chase Nominees (1.41%) still had more than a percentage ownership of ČEZ shares in CDCP. It can be recalled that the BlackRock group with a reported share of 1.19% and the company ABARETIA HOLDINGS officially declared themselves as qualified shareholders last time, as we explained earlier in the article “ČEZ has a new qualified shareholder. Most likely connected to Pavel Tykač”. In any case, CEZ shares were quite volatile during the week. They also traded at 4-week highs of CZK 968.50, but on Thursday they ended at more than a monthly low of CZK 945. The news was news about the intentions of 4 large nuclear sources, while so far there has been talk (already in tender) of one. The Friday conference of the Chamber of Commerce, or performance of parties
the prime minister did not actually bring any new news about the future of ČEZ. So we are still waiting for a resolution in this regard…
KOFOLA shares became the winner of the week when business surprised with the published positive economic figures, i.e. the proposed dividend of CZK 13.50. After the previous two significantly losing weeks, PHOTON ENERGY shares tried to recover. For the second week in a row, GEN DIGITAL shares standing outside the PX index added, but now mainly the strengthening dollar or to him a fading crown. In the home USA, after the previous significantly positive months, the title has been oscillating in the range of around USD 20-21 for the last three weeks and is looking for where to go next.
In conclusion, we can mention the “miracle” on SAB Finance shares. This exchange-rate “dead” title, with Friday’s trade of 15 shares at a price of CZK 1,080, received CZK 1,060 above its historical highs. At the same time, shareholders will face a potential dilution of their shares in September, or capital increase by subscription of new up to almost 472 thousand. shares. On the START market, shares of the unmanned aircraft manufacturer PRIMOCO continue their share price dominance this year. As of Friday this year, they had already appreciated by exactly 100%, when they ended at an all-time high of CZK 820.
Jiří Zendulka
Jiří Zendulka has been involved in finance since the days of coupon privatization, so for 30 years. He worked in various positions at stockbrokers, in order to establish himself as an analyst. He has been presenting his views in the media for a long time. A follower of the traditional values of capitalism, or on the contrary, a critic of most non-standard interventions in economies by governments and central banks.
2023-09-03 11:02:46
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