{"id":78020,"date":"2026-05-07T04:08:10","date_gmt":"2026-05-07T04:08:10","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/78020\/"},"modified":"2026-05-07T04:08:10","modified_gmt":"2026-05-07T04:08:10","slug":"burzy-jsou-opet-na-rekordech-pet-duvodu-proc-ignoruji-iransky-konflikt","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/78020\/","title":{"rendered":"Burzy jsou op\u011bt na rekordech. P\u011bt d\u016fvod\u016f, pro\u010d ignoruj\u00ed \u00edr\u00e1nsk\u00fd konflikt"},"content":{"rendered":"

V\u00edce ne\u017e dva m\u011bs\u00edce trv\u00e1 v\u00e1lka Izraele a\u00a0USA s\u00a0\u00cdr\u00e1nem. K\u00a0p\u0159ekvapen\u00ed \u0159ady expert\u016f ale sv\u011btov\u00e9 burzy l\u00e1mou jeden rekord za druh\u00fdm, jako by v\u00a0posledn\u00edch t\u00fddnech cena ropy nep\u0159esko\u010dila sto dolar\u016f za barel a\u00a0\u00cdr\u00e1n nezablokoval d\u016fle\u017eitou p\u0159epravn\u00ed tepnu\u00a0\u2013 Hormuzsk\u00fd pr\u016fliv. T\u00edm za obvykl\u00fdch okolnost\u00ed proud\u00ed okolo p\u011btiny sv\u011btov\u00fdch dod\u00e1vek ropy.<\/p>\n

V\u011bt\u0161\u00edmu zdra\u017een\u00ed ropy a\u00a0t\u00edm i\u00a0benzinu a\u00a0nafty pak zabr\u00e1nilo nouzov\u00e9 uvoln\u011bn\u00ed strategick\u00fdch rezerv st\u00e1t\u016f Mezin\u00e1rodn\u00ed agentury pro energii. I\u00a0p\u0159esto je cena ropy od za\u010d\u00e1tku roku dra\u017e\u0161\u00ed o\u00a0t\u00e9m\u011b\u0159 pades\u00e1t procent, kdy\u017e jeden barel ropy Brent st\u00e1l ve st\u0159edu okolo sta dolar\u016f.<\/p>\n

USA nyn\u00ed jednaj\u00ed s\u00a0\u00cdr\u00e1nem o\u00a0dohod\u011b, kter\u00e1 podle serveru Axios po\u010d\u00edt\u00e1 mimo jin\u00e9 s\u00a0moratoriem na \u00edr\u00e1nsk\u00e9 obohacov\u00e1n\u00ed uranu, se zru\u0161en\u00edm americk\u00fdch sankc\u00ed proti Teher\u00e1nu a\u00a0s uvoln\u011bn\u00ed zmrazen\u00fdch \u00edr\u00e1nsk\u00fdch aktiv, ale i\u00a0s obnoven\u00ed provozu v\u00a0Hormuzsk\u00e9m pr\u016flivu.<\/p>\n

<\/a><\/p>\n

I p\u0159es vysok\u00e9 ceny energi\u00ed ale burzy od USA p\u0159es Tchaj-wan a\u017e po Ji\u017en\u00ed Koreu dos\u00e1hly rekord\u016f. \u201eTo je pro n\u00e1s nejv\u011bt\u0161\u00ed z\u00e1hada\u00a0\u2013 pokud u\u017e nic jin\u00e9ho, domn\u00edv\u00e1me se, \u017ee ropa by m\u011bla b\u00fdt dra\u017e\u0161\u00ed a\u00a0akciov\u00fd trh by m\u011bl b\u00fdt mnohem, mnohem slab\u0161\u00ed,\u201c komentovala pro CNBC v\u00a0pond\u011bl\u00ed v\u00fdvoj kapit\u00e1lov\u00fdch trh\u016f Amrita Senov\u00e1, zakladatelka a\u00a0\u0159editelka analytick\u00e9 spole\u010dnosti Energy Aspect.<\/p>\n

Ve st\u0159edu korejsk\u00e1 burza pos\u00edlila o\u00a0v\u00edce ne\u017e \u0161est procent a\u00a0index Kospi prolomil hranici sedmi tis\u00edc bod\u016f. Hodnota spole\u010dnosti Samsung Electronics pak vyst\u0159elila o\u00a0v\u00edce ne\u017e patn\u00e1ct procent a\u00a0p\u0159ekonala hranici jednoho bilionu dolar\u016f. U\u017e minul\u00fd m\u011bs\u00edc p\u0159edvedly korejsk\u00e9 akcie neskute\u010dnou j\u00edzdu, kdy\u017e se jejich hodnota zv\u00fd\u0161ila o\u00a0t\u00e9m\u011b\u0159 31\u00a0procent. Jedn\u00e1 se o\u00a0nejlep\u0161\u00ed m\u011bs\u00ed\u010dn\u00ed v\u00fdsledek od ledna 1998.<\/p>\n

Investo\u0159i se tak p\u0159iklonili k\u00a0optimistick\u00fdm v\u00fdhled\u016fm ohledn\u011b budoucnosti i\u00a0p\u0159es v\u00e1\u017enost cel\u00e9 situace. \u201eJe n\u00e1m celkem jasn\u00e9, \u017ee akciov\u00e9 trhy na situaci nahl\u00ed\u017eej\u00ed z\u00a0pohledu \u201asklenice nap\u016fl pln\u00e9\u2018,\u201c prohl\u00e1sil Patrick O\u2019Donnell, hlavn\u00ed investi\u010dn\u00ed strat\u00e9g spole\u010dnosti Orbis.<\/p>\n

Z n\u00e1zor\u016f osloven\u00fdch expert\u016f vypl\u00fdv\u00e1, \u017ee existuje p\u011bt hlavn\u00edm d\u016fvod\u016f, pro\u010d trhy nev\u011bnovaly v\u00e1lce v\u00a0\u00cdr\u00e1nu v\u011bt\u0161\u00ed pozornost.<\/p>\n

Konflikt brzy skon\u010d\u00ed<\/p>\n

Trhy s\u00e1zely na to, \u017ee v\u00e1lka s\u00a0\u00cdr\u00e1nem brzy skon\u010d\u00ed. Tomu ostatn\u011b vydatn\u011b pom\u00e1hal v\u00a0posledn\u00edch t\u00fddnech sv\u00fdmi v\u00fdroky v\u00a0m\u00e9di\u00edch a\u00a0na soci\u00e1ln\u00edch s\u00edt\u00edch i\u00a0americk\u00fd prezident Donald Trump, kter\u00e9mu se poda\u0159ilo investory uklidnit. \u201eP\u0159evl\u00e1dlo p\u0159esv\u011bd\u010den\u00ed, \u017ee konflikt se poda\u0159\u00ed relativn\u011b brzy vy\u0159e\u0161it a\u00a0Trump z\u00a0n\u011bj vycouv\u00e1 ve stylu \u201aTACO\u2018 a\u00a0nic hrozn\u00e9ho se nestane,\u201c upozor\u0148uje portfolio mana\u017eer spole\u010dnosti Cyrrus Tom\u00e1\u0161 Pfeiler. TACO je zkratka z\u00a0anglick\u00e9ho \u201eTrump Always Chickens Out\u201c, co\u017e v\u00a0p\u0159ekladu znamen\u00e1, \u017ee Trump poka\u017ed\u00e9 uhne. Vznikla v\u00a0minul\u00e9m roce, kdy Trump ozn\u00e1mil \u0159adu cel, co\u017e zp\u016fsobilo paniku na trhu, ale vz\u00e1p\u011bt\u00ed vzal sv\u00e9 pl\u00e1ny ve velk\u00e9 m\u00ed\u0159e zp\u011bt.<\/p>\n

Siln\u00e1 v\u00fdsledkov\u00e1 sezona<\/p>\n

Zv\u00fd\u0161en\u00e9 n\u00e1klady kv\u016fli dra\u017e\u0161\u00ed naft\u011b i\u00a0benzinu se zat\u00edm ve v\u00fdsledc\u00edch americk\u00fdch, ale i\u00a0velk\u00fdch korejsk\u00fdch korporac\u00edch neprojevily. \u201eZ firem indexu S&P 500, kter\u00e9 dosud reportovaly v\u00fdsledky, jich 84\u00a0procent p\u0159ekonalo odhady na \u00farovni ziskovosti, co\u017e je nejv\u011bt\u0161\u00ed pod\u00edl od druh\u00e9ho\u00a0\u010dtvrtlet\u00ed 2021,\u201c vypo\u010d\u00edt\u00e1v\u00e1 analytik spole\u010dnosti Portu Marek Pokorn\u00fd. Podle Pfeilera pak 370\u00a0firm\u00e1m z\u00a0indexu rostly zisky tempem 26,6\u00a0procenta. \u201eJde o\u00a0extr\u00e9mn\u00ed r\u016fst zisk\u016f. Firmy jsou odoln\u00e9 v\u016f\u010di tomu, co se d\u011bje,\u201c dod\u00e1v\u00e1.<\/p>\n

Retailov\u00ed investo\u0159i kupuj\u00ed akcie p\u0159i propadu<\/p>\n

Na trh se op\u011bt vr\u00e1tila mentalita \u201ebuy-the-dip\u201c zn\u00e1m\u00e1 z\u00a0koronavirov\u00fdch let, kdy zejm\u00e9na drobn\u00ed investo\u0159i vyu\u017e\u00edvaj\u00ed i\u00a0mal\u00fdch pokles\u016f k\u00a0op\u011btovn\u00fdm n\u00e1kup\u016fm akci\u00ed, co\u017e br\u00e1n\u00ed jejich v\u011bt\u0161\u00edmu propadu. \u201eVe Spojen\u00fdch st\u00e1tech si investo\u0159i zachov\u00e1vaj\u00ed apetit k\u00a0riziku,\u201c \u0159\u00edk\u00e1 \u0160t\u011bp\u00e1n H\u00e1jek, portfolio mana\u017eer J&T investi\u010dn\u00ed spole\u010dnosti. Konflikt p\u0159inesl korekci cen, \u010deho\u017e podle n\u011bj investo\u0159i vyu\u017eili a\u00a0rychle se vr\u00e1tili do akci\u00ed. Retailov\u00ed investo\u0159i p\u0159itom hraj\u00ed \u010d\u00edm d\u00e1l v\u011bt\u0161\u00ed roli na burz\u00e1ch. Jsou naprosto kl\u00ed\u010dov\u00ed pro r\u016fst burzy v\u00a0Ji\u017en\u00ed Koreji, kde jsou odpov\u011bdn\u00ed za 75\u00a0procent leto\u0161n\u00edho r\u016fstu. Odhaduje se, \u017ee na trhu je aktivn\u00edch 14\u00a0milion\u016f drobn\u00fdch investor\u016f, co\u017e p\u0159edstavuje t\u0159etinu denn\u00edho objemu.<\/p>\n

Odolnost ekonomik v\u016f\u010di ropn\u00e9mu \u0161oku<\/p>\n

V\u00e1lka sice vyhnala cenu benzinu a\u00a0nafty vzh\u016fru, ale nezp\u016fsobila \u0161ir\u0161\u00ed zav\u00edr\u00e1n\u00ed ekonomik. Dopad zm\u00edrnilo uvoln\u011bn\u00ed zm\u00edn\u011bn\u00fdch strategick\u00fdch rezerv, vyu\u017eit\u00ed kapacit v\u00a0t\u011b\u017ea\u0159sk\u00fdch zem\u00edch mimo Persk\u00fd z\u00e1liv a\u00a0rovn\u011b\u017e pokles popt\u00e1vky kv\u016fli zdra\u017een\u00ed.<\/p>\n

<\/a><\/p>\n

Svou roli hraje i\u00a0zm\u011bna ekonomiky, kdy ropa u\u017e nen\u00ed tolik pot\u0159ebn\u00e1 k\u00a0ekonomick\u00e9mu r\u016fstu jako nap\u0159\u00edklad v\u00a070.\u00a0letech, kdy do\u0161lo k\u00a0ropn\u00fdm \u0161ok\u016fm. \u201eEnergetick\u00fd \u0161ok tentokr\u00e1t p\u0159ich\u00e1z\u00ed do doby, kter\u00e1 je na fosiln\u00edch palivech struktur\u00e1ln\u011b m\u00e9n\u011b z\u00e1visl\u00e1 ne\u017e p\u0159ed deseti \u010di patn\u00e1cti lety,\u201c \u0159\u00edk\u00e1 Pokorn\u00fd. \u201eTo neznamen\u00e1, \u017ee drah\u00e1 energie nebol\u00ed a\u00a0bolet nebude, ale p\u0159enos do re\u00e1ln\u00e9 ekonomiky a\u00a0ziskovosti firem je pomalej\u0161\u00ed, co\u017e trhy vn\u00edmaj\u00ed.\u201c<\/p>\n

Podle zve\u0159ejn\u011bn\u00fdch statistick\u00fdch \u00fadaj\u016f jsou nav\u00edc odoln\u00e9 cel\u00e9 ekonomiky. \u201eVych\u00e1zej\u00ed st\u00e1le velmi solidn\u00ed makroekonomick\u00e1 data, kter\u00e1 ukazuj\u00ed, \u017ee zejm\u00e9na ekonomika USA z\u016fst\u00e1v\u00e1 st\u00e1le siln\u00e1,\u201c dod\u00e1v\u00e1 analytik XTB Tom\u00e1\u0161 Maxa.<\/p>\n

Boom um\u011bl\u00e9 inteligence<\/p>\n

Burzy t\u00e1hnou nahoru v\u00a0posledn\u00edch t\u00fddnech zejm\u00e9na technologick\u00e9 akcie, a\u00a0to p\u0159edev\u0161\u00edm v\u00fdrobci \u010dip\u016f a\u00a0r\u016fzn\u00fdch typ\u016f pam\u011bt\u00ed a\u00a0disk\u016f, kter\u00e9 se vyu\u017e\u00edvaj\u00ed v\u00a0datov\u00fdch centrech pro tr\u00e9nov\u00e1n\u00ed model\u016f um\u011bl\u00e9 inteligence. Korejsk\u00fd v\u00fdrobce pam\u011bt\u00ed SK Hynix reportoval p\u011btin\u00e1sobn\u00fd skok zisku v\u00a0posledn\u00edm kvart\u00e1le a\u00a0Samsung Electronics meziro\u010dn\u011b zv\u00fd\u0161il provozn\u00ed zisk v\u00a0prvn\u00edm\u00a0\u010dtvrtlet\u00ed na 57,2\u00a0bilionu korejsk\u00fdch won\u016f (800\u00a0miliard korun). O\u00a0rok d\u0159\u00edve to bylo 6,69\u00a0bilionu won\u016f.<\/p>\n

\u201eHlavn\u00edm t\u00e9matem spojen\u00fdm s\u00a0v\u00fdsledkovou sezonou je aktu\u00e1ln\u011b nedostatek \u010dip\u016f a\u00a0pam\u011bt\u00ed. Pr\u00e1v\u011b firmy z\u00a0tohoto sektoru v\u00fdrazn\u011b p\u0159isp\u00edvaj\u00ed k\u00a0historick\u00fdm rekord\u016fm na indexech,\u201c upozor\u0148uje Maxa. Nejziskov\u011bj\u0161\u00ed firmou na americk\u00e9m trhu je podle n\u011bj v\u00fdrobce pam\u011bt\u00ed SanDisk, kter\u00fd od za\u010d\u00e1tku roku p\u0159ipsal p\u0159es 400\u00a0procent. Da\u0159\u00ed se v\u0161ak i\u00a0producent\u016fm \u010dip\u016f, jako jsou AMD \u010di Intel. Konkr\u00e9tn\u011b AMD ve st\u0159edu p\u0159ekonala sv\u00fdmi v\u00fdsledky o\u010dek\u00e1v\u00e1n\u00ed trhu a\u00a0b\u011bhem v\u010derej\u0161\u00edho obchodov\u00e1n\u00ed akcie posilovaly okolo dvaceti procent.<\/p>\n

<\/a><\/p>\n

Odborn\u00edci se shoduj\u00ed, \u017ee ve zbytku roku se d\u00e1 o\u010dek\u00e1vat vy\u0161\u0161\u00ed kol\u00edsavost cen akci\u00ed. Pozornost investor\u016f se toti\u017e podle H\u00e1jka obr\u00e1t\u00ed na AI a\u00a0geopolitiku. \u201eTrump v\u00a0pr\u016fzkumech ztr\u00e1c\u00ed p\u0159ed podzimn\u00edmi volbami do Kongresu, co\u017e zcela jist\u011b p\u0159inese p\u0159es l\u00e9to agresivn\u011bj\u0161\u00ed r\u00e9toriku i\u00a0kroky. To bude pro trhy zdrojem volatility,\u201c dopl\u0148uje H\u00e1jek.<\/p>\n

M\u016f\u017ee nav\u00edc skon\u010dit i\u00a0p\u0159\u00edli\u0161n\u00fd klid na trz\u00edch. \u201eTrhy zat\u00edm reaguj\u00ed na v\u00e1lku s\u00a0\u00cdr\u00e1nem p\u0159ekvapiv\u011b klidn\u011b. S&P 500, ale i\u00a0kl\u00ed\u010dov\u00e9 asijsk\u00e9 indexy, jsou pobl\u00ed\u017e rekord\u016f, i\u00a0kdy\u017e cena ropy od za\u010d\u00e1tku konfliktu vysko\u010dila o\u00a0v\u00edce ne\u017e polovinu a\u00a0Brent se obchoduje v\u00fdrazn\u011b nad \u00farovn\u011bmi z\u00a0lo\u0148ska,\u201c \u0159\u00edk\u00e1 Pokorn\u00fd a\u00a0dod\u00e1v\u00e1: \u201eTo znamen\u00e1, \u017ee \u010d\u00e1st p\u0159ecen\u011bn\u00ed sm\u011brem dol\u016f m\u016f\u017ee p\u0159ij\u00edt se zpo\u017ed\u011bn\u00edm, a\u017e se vy\u0161\u0161\u00ed ceny energie projev\u00ed v\u00a0mar\u017e\u00edch firem, spot\u0159ebitelsk\u00e9 d\u016fv\u011b\u0159e a\u00a0makro datech za druhou polovinu roku.\u201c Odborn\u00edci ov\u0161em o\u010dek\u00e1vaj\u00ed, \u017ee i\u00a0letos by m\u011bly burzy skon\u010dit v\u00a0plusu.<\/p>\n","protected":false},"excerpt":{"rendered":"V\u00edce ne\u017e dva m\u011bs\u00edce trv\u00e1 v\u00e1lka Izraele a\u00a0USA s\u00a0\u00cdr\u00e1nem. K\u00a0p\u0159ekvapen\u00ed \u0159ady expert\u016f ale sv\u011btov\u00e9 burzy l\u00e1mou jeden rekord…\n","protected":false},"author":2,"featured_media":64078,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[412,623,67,68,212,7825,643,205,126],"class_list":{"0":"post-78020","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-byznys","8":"tag-akcie","9":"tag-burza","10":"tag-business","11":"tag-byznys","12":"tag-donald-trump","13":"tag-konflikt-usa-izrael-iran","14":"tag-new-york-stock-exchange-nyse","15":"tag-ropa","16":"tag-umela-inteligence-ai"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116531331568756334","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/78020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=78020"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/78020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/64078"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=78020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=78020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=78020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}