A week on the stock markets: Prague fell less than others – Commentary
Everyone was waiting for a decision He fed you AND ECB about settings interest rates. In both cases there was an increase of 50 bb as expected. However, the commentary took a more hawkish tone, especially the one from
ECB. They did not please retail assistance AND industrial production (expensive energy, problems in supply chains). At the same time, the week did not start badly. Inflate fared better overseas and showed further slowing down. The indices also pleased PMI against EurozoneAND Germany (index of purchasing managers) indicating that the decline in economic activity in industrybut mainly in services slows down considerably.
American market
In the first two days of this week
American the S&P500 stock index rose relative to lower inflationary date. Finally he got a direct from He fed you or rather his accompanying commentary, which sounded in a hawkish tone.
From Monday to Thursday, the S&P500 index weakened by 0.98% (3,895.75 points). Today, the S&P500 began trading influenced by weaker indices PMI, which were released just before the open, down 6-tenths of a percent and further falling below one percent. For the whole week, it looks like a loss of over 2%.
European events strengthened only in Tuesdaypositively affected by deceleration inflation against the US. They weakened for the rest of the week, influenced by hawkish rhetoric.
Today shortly before the end of European trading
action, measured by the STOXX Europe 600 Index, fall by 1.5% (423.41 b.). The decline accelerated with the negative opening of overseas markets. That means it will write off over 3.5% for the entire week.
Today Prague Stock Exchange she weakened like her colleagues around her. PX index surrendered 0.42% (1,166.45 b.).
Foal (+1.25%, 566 CZK) became the winner today when he literally shot at the very end of trading. Stop na is positive for her electricity prices. we also released a new analysis today with a price target of 652 CZK (below). Erste (+0.92%, 683.80 CZK), Pill (+0.78%, 645 CZK), traditionally on low volume, and Moneta (+0.14%, 71.90 CZK) were other names that rose today.
He lost the most today ČEZ (-2.53%, 750.50 CZK), when investors chose fast profits since the beginning of the week. No news, likely in response to hawkish commentary from central banks, followed Philip Morris
CR (-2.16%, 16,320 CZK), Commercial Bank (-0.69%, 651.50 CZK) a VIG (-0.38%, 525 CZK).
Table with daily and weekly index performance a shares is at the end of this comment.
Weekly performance
PX index grew only in Tuesday. Like other stock markets, it was positively affected by better data from the American
inflate. The rest of the week, however, and in total its value for this week decreased by 0.57% (1,166.45 b.).
The best performance from individual titles was shown by Colta (+2.91%, 566 CZK), probably as a reaction to ceiling
electricity prices for large enterprises, which is known positive news for both. Strong growth was seen at the end of the week in Friday at the end of trading. Moneta also managed to strengthen (+0.42%, 71.90 CZK) a Cool (+0.41%, 243 CZK). ČEZfinally ended up with mild profit +0.27% (750.50 CZK). It rose strongly in the first two days in response to the ongoing restructuring debate (below). I mean, yours profits almost wiped it all out.
It weakened the most this week Philip Morris CR (-3.32%, 16,320 CZK), when it weakened sharply at the end of Friday’s trading. Erste The group lost 1.78% (683.80 CZK). This is the third consecutive week of decline, after the previous five weeks of growth. Pill decreased by 1.53% (645 CZK).
Table with daily and weekly index performance a shares is at the end of this comment.
Substantial rate-setting news from Prague
stock market
We have released a new analysis of the company Foal. We have raised our target price slightly to 652 CZK (from 645 CZK), the Buy recommendation is unchanged. From our point of view, this is a growth title that will also offer a decent dividend. You can read our report here https://bit.ly/Colt_Dec22_CZ.
At the beginning of the week, information appeared again about the upcoming restructuring (division) Ceza. More information could be known in the first half of next year. I remind you that the reason is the government’s effort to control (100%) production in key, i.e. in particular nuclear AND coal
power plants. And another is the evaluation of the construction tender nuclear power plants
Dukovany.
The government approved ceiling on electricity prices for large enterprises. It should have a positive effect on Colt’s economy, Kofolyor Philip Morris CR.
What can we expect next week?
Next week, respectively, the program will be different, different corporate rate-setting news will be poorer.
It decides on the setting of the monetary policy CNB. Change 7% base interest rates is not expected.