Prague Stock Exchange posts worst losses since 2004

The Prague Stock Exchange recorded its biggest loss since 2004 on Wednesday. Its headline PX Index ended the day 3.87 percent down at 1,042.6 points. At one point, the PX Index dropped below 1,000 points and trading in the shares of property giant Orco and car-dealer AAA Auto had to be suspended, with shares in the construction firm falling by over 35 percent. Markets were revived in the afternoon, however, by news of a surprise interest-rate cut across the eurozone and beyond. Following the announcement, the Prague bourse’s loss decreased from five percent to two percent.

Author: Rosie Johnston