Bloomberg News

Erste Leads Longest Czech Stock Rout This Year on Spain Concern

March 26, 2012

Erste Group Bank AG (RBAG) of Austria led Czech shares toward their longest stretch of losses this year as Italian Prime Minister Mario Monti warned Spain’s struggle to control its finances may reignite Europe’s debt crisis.

The stock slid 1.3 percent to 448 koruna by 11:34 a.m. in Prague. The 14-member PX (PX) index, where Erste has a 19 percent weighting, retreated 0.3 percent. A close at that level would be the lowest since Feb. 1 and the longest selloff since Dec. 12.

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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