Czech PX Index Jumps Most in Seven Weeks as Komercni, Erste Bank Advance

Czech stocks rallied, with the main index rising the most in seven weeks as lenders Erste Group Bank AG and Komercni Banka AS gained more than 2 percent, and CEZ AS, the country’s largest power producer, ended a two-day decline.

The PX Index advanced 1.9 percent to 1,178.2 at its 4:08 p.m. close in Prague, its biggest daily gain since July 13. Erste added 2.2 percent to 745 koruna and Komercni jumped 4.1 percent, the most in four weeks, to 4,060. CEZ rose 2 percent.

The three companies have a combined 65 percent weighting within the index of 14 stocks.

Orco Property Group SA, a developer in central Europe, rallied for a third day, rising 6.5 percent to 168.08 koruna, its highest close since May. It extended yesterday’s 15 percent jump, which was spurred by a return to profit in the first half.

ECM Real Estate Investments AG rebounded from its record- low level, ending nine days of declines totaling 31 percent through yesterday. It added 7.7 percent to 134.56 koruna today.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

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