Bloomberg News

Erste Leads Czech Stocks Toward Longest Winning Streak in Month

March 09, 2012

Erste Group Bank AG (EBS) of Austria rose for a third day, leading Czech stocks toward the longest winning streak in more than a month, after Greece completed its debt swap and investors awaited the U.S. government’s jobs report.

Erste climbed 1.5 percent to 469.2 koruna as of 9:44 a.m. in Prague, paring this week’s losses to 3 percent. The PX (PX) equity index, where Erste has a 22 percent weighting, advanced 0.6 percent to 1,002.4, its third day of gains.

European stocks advanced after the Greek government said it reached its target in the biggest sovereign restructuring in history, with a 95.7 percent participation rate among investors. China’s consumer prices rose at the slowest pace in almost two years and German exports exceeded forecasts. A U.S. report may show that employers in the world’s largest economy added 210,000 jobs in February, according to a Bloomberg survey of economists.

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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