Bloomberg News

Czech Stocks Rise Most This Month After Greek Vote, Led by Erste

February 13, 2012

Feb. 13 (Bloomberg) -- Czech stocks increased the most this month, led by Austrian companies Erste Group Bank AG and Vienna Insurance Group AG, after Greek lawmakers approved austerity plans, boosting demand for riskier assets worldwide.

The PX equity gauge surged as much as 3.1 percent, the most since Jan. 26 on an intraday basis, and was 2.5 percent higher at 1,015.9 as of 10:55 a.m. in Prague. Erste and VIG, which account for 36 percent of the index, rose more than 4 percent.

Financial companies worldwide were among the biggest stock gainers today as passage of the Greek austerity bill fuelled optimism that euro-region finance ministers will on Feb. 15 approve a second bailout package to avert default.

--Editors: Peter Branton, Ash Kumar

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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