In the past week, positive investor sentiment prevailed on the financial markets, and the American stock markets continued their historic growth streak, when the S&P 500 index rose for the 9th week in ad. The reason was, on the one hand, that the USA and Russia had agreed to extend the peace talks by 60 days and to discuss Russia’s nuclear program. As a result, the price of Brent oil initially fell by 11.5% for the week to 92 USD/barrel. The second reason was the persistent positive sentiment on the shares of the semiconductor manufacturers. This was helped by a series of positive news about the demand for chips supporting artificial intelligence, while the latest contribution to sentiment was a very strong outlook for full-year sales from Dell Technologies. Konen, the good mood in the market will help me prepare for the IPO of Elon Musk’s company SpaceX, which could become the biggest initial public offering ever. The S&P 500 stock index added 1.5% t/t over the past week to the change in positive factors, resulting in the price of oil, which contributed to the growth of the European EuroStoxx 600 by 0.5% t/t. On the contrary, the burst index PX fell by -0.5% t/t to 2547 points, when it was backed up by the correction in EZ and VIG shares. At VIG, however, the decline was caused by trading without a claim for a dividend. The closing of the week could also be influenced by the MSCI quarterly fixed index for the domestic title, which took place at the closing of the trading session.
Companies on BCPP On Tuesday, the company Doosan koda Power published an invitation to the general meeting, which will be held on June 25, 2026. The company’s board of directors will propose a dividend of K28 per share (6.5% gross dividend yield) for approval. This dividend includes the payment of the entire profit for the past year (K 488 million) and so hundred (K 405 million) of retained earnings from previous years. The dividend was a positive surprise, or the distribution of retained earnings of previous years was not acceptable to the market and the management did not consider this possibility in the past. The company’s shares added a strong 9.5% t/t to 438.5 K.
On Thursday, before the market opened, VIG underwriters reported a growth in gross written premiums of 4.4% y/y to EUR 4.857 billion and an increase in claims from underwriting activities by 9.1% y/y to EUR 3.425 billion in the first quarter of this year. Profit before tax reached EUR 310.3 billion and thus increased by a significant +18.8% y/y. On the basis of a strong 1Q, the management also confirmed the full-year outlook, where the total profit before tax is in the range of EUR 1.25-1.3 billion (without the effect of the Nürnberger insurance company). The shares of the VIG company are therefore traded from now on without a claim for a dividend from last year’s profit at EUR 1.73 per share (2.7% gross foreign inflow). During the week, VIG shares fell by 3.1% t/t to 1512 K, but the gain was due to trading without a claim for a dividend.
The company Colt CZ Group has announced that its general meeting will be held on June 26, 2026 at 2 p.m. in Prague. The due point of the general meeting will be a decision on the distribution of profit in 2025, where the company proposes to pay K1.879 billion as a dividend, i.e. two announcements of K30/share. The decisive day for the dividend claim will be July 2, 2026. This means that the last time Colt CZ shares will be traded with the dividend claim is July 30, 2026.
Colt CZ also informed that it has concluded a memorandum with the Estonian company Frankenburg Technologies on the joint development, production and distribution of anti-drone systems. The goal of both companies is to produce affordable anti-drone missiles and launchers, which should meet the urgent needs of Ukraine in defense against a large number of unmanned drones. At the same time, cooperation should increase the capacity for available missile defense for Czechoslovak and European allies. Colt shares closed the week unchanged at K1058.
The winner of the week in terms of performance was Doosan koda Power (+9.5% t/t, 438.5 K), which positively surprised with the proposed dividend. On the contrary, the largest loss was recorded by CSG arms shares (-5.7% y/y, 432.7 K), which corrected the previous results of growth.
Insight Klov’s darkness for the financial markets is likely to remain the conflict between the USA and Rome in the fifth week, and the Strait of Hormuz may remain open. It would seem that the agreement between the USA and the spring has been broken, the Strait of Hormuz will be de facto closed and, at first, about thin stocks of oil and oil products. Therefore, it will be decided whether the prepared agreement will finally be sanctified by Donald Trump and whether such an agreement will actually restore free navigation through the Strait of Hormuz. Investors will also monitor the change in employment in the US in the quarter, which should show a slight slowdown from 115 thousand. new cities in April to 90 thousand in May. Konen, Elon Musk’s SpaceX could launch an official roadshow for its initial public offering on Thursday. With the tolled IPO proceeds and USD 75 billion, the sale could become the largest in history. The company’s shift to space and artificial intelligence will support sentiment on US stocks. If the conclusion of the agreement between the USA and Russia with an immediate effect on the price of oil were confirmed, the stock markets could be in a positive mood.
On the domestic market, investors will be watching the long-awaited general meeting of the EZ company, which will be held on Monday, June 1 at the Congress Center in Prague. The company was approved due to (a) the property transformation of the company leading to the remaining production, (b) the new members of the supervisory board and (c) the dividend from the profit of 2025 in the amount of K42/pc. Minority shareholder Petr Kalivoda submitted a counter-proposal for a dividend of K50/share, but the board of directors took a tepid attitude towards it. Philip Morris R shares will be traded for the last time on Thursday, June 4, with a demand for a dividend of K1,100/pc, which represents a 5.6% gross dividend yield.
From the point of view of the macroeconomic calendar, there will be some interesting data from the US economy in five weeks. The May PMI indices in industry and services will be published on Monday and Wednesday, and data on the American labor market will be released on Friday (it is estimated that the unemployment rate stagnated at 4.3%). The PMI indices will be released later in the week in n. After the preliminary estimates for individual economies, the preliminary estimate of total inflation in the euro area for May will be released on Tuesday, and it is expected that, compared to April, the dynamics of prices has accelerated interannual growth by 0.3 pp to 3.3% y/y. From the Czech economy, on Monday, we will learn about the state budget from the beginning of the year to May and the value of the industrial PMI (about 51.5 points). On Thursday, preliminary estimates of May inflation (about 2.4% y/y) and data on wage growth in the first quarter of this year (about 5.2% y/y) will be published. The week will close with data on retail sales. From the region, the decision on monetary policy rates in Poland will change (equal to stability at 3.75%).
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