Bloomberg News

Erste Group Leads Czech Shares Into First Weekly Advance in May

May 25, 2012

Erste Group Bank AG (EBS) climbed, leading Czech shares’ first weekly gain this month, as signs of an easing in the euro area’s financial crisis boosted demand for riskier assets.

The Austrian company rose 1.6 percent to 375 koruna as of 10:32 a.m. in Prague, taking its weekly advance to 3.3 percent. The 14-member PX (PX) index, where Erste has an 18 percent weighting, added 0.4 percent today and 1.6 percent this week.

European stocks rose, with lenders and insurers among the best performers, after Italian Prime Minister Mario Monti said that most leaders support joint bonds for the euro area.

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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