Erste Group Leads Czech Stock Rally as Profit Exceeds Estimates

Erste Group Bank AG (RBAG) led Czech stocks higher after the Austrian company published fourth-quarter net income that exceeded analysts’ estimates and said it is close to filling its capital shortfall.

The stock jumped as much as 4.7 percent before paring its gain to 3.1 percent at 463 koruna by 10:06 a.m. in Prague, headed for its biggest one-day gain in three weeks. The PX (PX) share index, where Erste has a 22 percent weighting, rose 0.9 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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