Eastern stock markets with a mixed picture – Focus on inflation worries

On the Eastern European equity markets, Wednesday saw a mixed trading day. Investors focused on the latest US inflation data, which fell short of forecasts in some areas. This led to varying impulses within the region. The Prague PX index managed an upward trend, rising by 0.49 percent. Energy provider CEZ particularly contributed positive highlights, with their share prices climbing by a significant 2.3 percent. The Czech benchmark index was also buoyed by the financial stocks of Erste Group and Komercni Banka, each posting a gain of 0.8 percent. However, less favorably disposed investors were seen in Hungary, where the Budapest Bux index suffered a loss of 0.28 percent. Within the index hierarchy, shares of Gedeon Richter especially experienced losses. Values of the oil company Mol also witnessed a setback. On a positive note, the performance of MTelekom stands out, managing to gain close to one percent. In Poland, a mixed market situation prevailed. While the focused Wig-20 posted a marginal decline of 0.07 percent, the broader Wig index recorded an increase of 0.34 percent. On the corporate level, earnings report led to fluctuations: Energy company PGE saw a share price plunge of 4.2 percent following the announcement of its results. Shares of PKO Bank Polski lost slightly, whereas those of Mercator posted substantial gains. In the energy sector, Tauron, as well as JSW in the mining sector, had to shed some value. On the Moscow trading floor, buyers prevailed, with the Russian RTS index climbing by 0.49 percent upward, closing the trading day on an optimistic note.