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Czech Stocks: CEZ, Erste Group Bank, Orco Property Group Move
The Czech Republic’s PX (PX) stock index declined for a second day, closing down 1.8 percent to 893.2.
The following were among the most active equities on the Prague Stock Exchange today. Stock symbols follow company names.
CEZ AS (CEZ) , the country’s biggest electricity company, dropped 1.1 percent to 710 koruna, snapping two days of gains. UBS AG added the company to its list of least-preferred stocks today, citing losses on the company’s investment in Albania.
Erste Group Bank AG (EBS) of Austria slid 4.5 percent to 389 koruna, its lowest close in four weeks. Lenders were among the biggest stock decliners in Europe as the region’s financial crisis worsened with Greece failing to form a new government.
Orco Property Group SA (ORCO) slumped to a record low on concern a proposed conversion of debt into equity will dilute the share value. The developer in central Europe retreated 5.7 percent to 67.88 koruna.
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