Erste Leads Czech Stocks Higher as Fed Boosts Global Sentiment

Erste Group Bank AG (RBAG) of Austria led a rally in Czech shares after the Federal Reserve bolstered confidence in the U.S. banking system and raised its economic assessment, boosting demand for risker assets worldwide.

The stock rose 2.3 percent to 462.50 koruna by 12:18 p.m. in Prague, extending this year’s advance to 34 percent. The 14- member PX (PX) equity gauge, where Erste has a more than 20 percent weighting, rose 0.9 percent, a second day of gains.

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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