Prague and Frankfurt stock exchanges show mixed weekly performance

The Prague Stock Exchange saw mixed results over the week. While the PX index ended Friday with a 1.24% gain, it failed to recover from significant mid-week losses. The financial sector faced pressure due to political rhetoric regarding special taxes, with Erste Group losing 3.64% over the week and Komerční banka marking its fifth consecutive weekly decline.

In Germany, the DAX index closed in positive territory, led by gains in Zalando, SAP, and Bayer. However, Deutsche Telekom saw a sharp decline of 8.0% following news that SpaceX plans to purchase a significant portion of wireless frequency spectrum from Grain Management to bolster its Starlink service.

In the United States, the University of Michigan consumer sentiment index for October was reported at a preliminary 46.3 points, falling below market expectations of 47.6.