Bloomberg News

Koruna Gains for Third Day as Czech Industrial Output Increases

June 06, 2012

The koruna strengthened for a third day against the euro after Czech industrial production expanded more than expected and as European stocks rallied on optimism policy makers will take steps to spur economic growth.

The Czech currency appreciated 0.7 percent to 25.460 per euro by 4:38 p.m. in Prague, taking its gains so far this week to 1.3 percent.

Industrial output for April climbed 2.2 percent from a year earlier, the statistics office in Prague said today, beating the 1.2 percent median forecast of 15 analysts polled by Bloomberg. The euro strengthened and commodities increased as the cost of insuring Spanish bonds against default fell from a record.

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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