Overview of the latest economic events in the Czech Republic
According to statistics from the Czech Banking Association Hypomonitor, banks and building societies granted mortgages worth CZK 37.8 billion in July, which represents a month-on-month increase of 2 %. New loans excluding refinancing rose by CZK 3 % to CZK 30 billion. The average rate on new mortgages fell from 4.56 % to 4.53 %.

According to CCS, fuel prices fell last week: Natural 95 sells on average for CZK 34.01/l, 13 cents less than a week ago. Diesel fell by 33 cents to CZK 32.98/l.

Foreign investment
Financial group PPF has sold its Chinese arm Home Credit to a consortium around JD.com, in a deal expected to generate a profit of around EUR 298 million. This confirms the Group's strategy to continue to focus on the European market, particularly in the banking and fintech sectors.

Significant events outside the Czech Republic with global impact
There is a significant interstate competition for the German media company ProSiebenSat.1, where both the Italian group MFE-MediaForEurope and the Czech PPF are interested. The unravelling of this strategic offer is expected next week.

Volatility in oil prices persists on international markets, with a potential impact on transport and refining costs, although fuel prices in the Czech Republic continue to decline slightly.

Impact on markets and outlook
The growth of the mortgage market at current interest rates suggests stable demand for housing finance despite inflationary pressures. Analysis of CCS data shows that falling petrol and diesel prices are slightly reducing household expenditure on transport. With the end of PPF's equity activity in China and the ongoing competition for ProSiebenSat.1, the Czech equity sector is becoming more Europe-focused.

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