Erste Leads Czech Stocks to Four-Month Low on French Elections
By Krystof Chamonikolas -
2012-05-07T10:00:38Z
Erste Group Bank AG (EBS) led Czech shares to the lowest in nearly four months after French Socialist Francois Hollande was elected president and Greek voters picked anti-bailout parties, driving investors from riskier assets.
The Austrian lender slid 2.1 percent to 411 koruna by 11:48 a.m. in Prague, its fourth day of declines. The 14-member PX equity index, where Erste has a 19 percent weighting, dropped 1.4 percent to 906.2, poised for its lowest close since Jan. 18.
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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