Erste Leads Czech Shares Higher After Buy Recommendation at VTB

Erste Group Bank AG (RBAG) rose for a third day, leading Czech shares higher after the Austrian lender was rated buy in new coverage at VTB Capital.

The stock climbed 0.9 percent to 381.90 koruna by 9:44 a.m. in Prague, adding to a 1.3 percent advance in the previous two days. The 14-member PX (PX) equity index, in which Erste has a 20 percent weighting, increased 0.4 percent to 905.20.

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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