Bloomberg News

Erste Group Leads Czech Shares Higher as Spain Seeks Bank Rescue

June 11, 2012

Erste Group Bank AG (RBAG) led Czech shares higher after Spain requested a bailout for its banks and China’s exports beat estimates, boosting demand for riskier assets.

The Austrian lender climbed 2.7 percent to 375 koruna by 9:37 a.m. in Prague, adding to a 2.6 percent rally last week. The 14-member PX (PX) equity index, in which Erste has an 18 percent weighting, advanced 1 percent.

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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