Bloomberg News

Erste Leads Czech Shares to Worst Month in Eight: Prague Mover

May 31, 2012

Erste Group Bank AG (RBAG) of Austria led Czech shares toward their biggest monthly drop since September as rising borrowing costs in Italy and Spain fueled concern the debt crisis in the euro region is not contained, hurting riskier assets in emerging markets.

The stock dropped 1.3 percent to 365 koruna by 12:12 p.m. in Prague, extending May losses to 15 percent. The PX (PX) index of 14 companies, where Erste has an 18 percent weighting, dropped 0.3 percent today and 6.8 percent since the end of April.

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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