Bloomberg News

Erste Leads Czech Shares Third Day of Gains on European Stimulus

May 22, 2012

Erste Group Bank AG (EBS) of Austria rose, leading a third day of gains for Czech shares, as speculation that Europe will join China’s efforts to bolster economic growth fueled demand for riskier assets worldwide.

The stock climbed 2.5 percent to 375 koruna by 9:52 a.m. in Prague, its third day of advances. The PX (PX) index of 14 companies, in which Erste has an 18 percent weighting, climbed to a one- week high, rallying 0.9 percent to 880.9.

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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