Erste Leads Czech Stocks to Four-Month Low on French Elections

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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