Erste Leads Longest Czech Stock Rout This Year on Spain Concern
Erste Group Bank AG (RBAG) of Austria led Czech shares toward their longest stretch of losses this year as Italian Prime Minister Mario Monti warned Spain’s struggle to control its finances may reignite Europe’s debt crisis.
The stock slid 1.3 percent to 448 koruna by 11:34 a.m. in Prague. The 14-member PX (PX) index, where Erste has a 19 percent weighting, retreated 0.3 percent. A close at that level would be the lowest since Feb. 1 and the longest selloff since Dec. 12.
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