Bloomberg News

Czech Stocks Gain Most This Month on German, U.S. Economic Data

December 20, 2011

Dec. 20 (Bloomberg) -- The Czech Republic’s equity index rose the most in three weeks, led by CEZ AS and Erste Group Bank AG, after reports on U.S. housing starts and German business confidence boosted investor demand for riskier assets worldwide.

The PX gauge of 14 companies jumped as much as 1.9 percent, the most since Nov. 30, and traded up 1.8 percent to 868.2 as of 3:58 p.m. in Prague. CEZ, the biggest Czech power utility, and Austria’s Erste gained more than 3.3 percent. The two stocks have a combined 38 percent weighting in the benchmark.

--Editors: Linda Shen, Gavin Serkin

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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