CEZ, Erste Lead Czech Shares’ Biggest Two-Day Decline in Month

CEZ AS (CEZ) and Erste Group Bank AG (EBS) led a drop in Czech shares for a second day, headed for the biggest back-to-back drop in more than a month, as the announcement of a Greek referendum spurred concern that the country may default.

The PX equity index slumped 2.8 percent to 904.3 as of 9:18 a.m. in Prague, adding to a 3.9 percent decline yesterday. CEZ, the biggest Czech power utility, dropped 2.3 percent to 742.5 koruna. Austria’s Erste slid 4.3 percent to 378 koruna.

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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