21.2.2023 08:58
Futures Lose, US Joins Trading
European shares will start trading on Tuesday with moderate losses of around -0.3% according to futures indications. Wall Street will also join the trading after yesterday’s holiday, currently overseas futures are losing -0.5%. Investors are reassessing the possible number of rate hikes upwards after last week’s data. A weaker development was also visible at night in Asia (MSCI -0.7%). Geopolitics is also coming to the fore, after Biden’s surprise visit to Kyiv, the American president will continue with a visit to Poland. While Putin is due to deliver his speech to the nation today. In the given state, one can be skeptical about further growth after the strong growth of the European indices. The PX index in Prague yesterday lost -1.4% to 1380 points, when the recent leader, CEZ shares, lost its growth momentum. The title fell to CZK 958 (-3.4%) on Monday, when it failed to hold short-term support at CZK 980. Meanwhile, the technical level of the 200-day moving average lies at CZK 943. The decline of Erste (-1.75%) could also have had an effect on the decline of the neighboring Raiffeisen bank (-8%). Today we expect growth in activity on the domestic market, with a tendency towards a possible weakening.
Pavel Hadroušek, broker, Fio banka, as
