The Prague Stock Exchange is at its highest level in seven months

The Prague Stock Exchange saw a significant rise on Thursday, with the PX index increasing 1.34 percent to 1,320.41 points, the highest level in more than seven months. The stock exchange was boosted by a 4.5 percent increase in the shares of energy firm ČEZ, which were driven by speculation about a possible split of the semi-state company. Analysts attribute the growth of ČEZ shares to speculation about restructuring and an expected premium to the market price. The rise in ČEZ shares has been seen throughout the year, with an increase of 18.83 percent so far this year due to speculation about the upcoming government restructuring of the Czech energy sector.

Despite the discussion of an amendment to the law on transformations of commercial companies and cooperatives by the Legislative Council (LRV), the passage of the amendment that dealt with the possible division of ČEZ was not recommended to the cabinet for adoption. However, the growth of ČEZ shares had a significant impact on the stock exchange, with half of the ten main issues on the Prague Stock Exchange experiencing gains. The shares of the insurance group VIG recorded the second-highest growth, up 1.38 percent. The Czech currency weakened against both major world currencies, with the koruna depreciating by two cents to the euro and by 12 cents to the dollar.

Article by Prague Forum

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