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Czech Stocks: Erste Group, New World, Telefonica Czech Republic

Feb. 29 (Bloomberg) -- The Czech Republic’s PX stock index rose 1.9 percent to 1,011.7 at the close in Prague, its biggest one-day advance since Feb. 17.

The following were among the most active equities in the Czech market today. Stock symbols follow company names.

Erste Group Bank AG (RBAG CP) jumped 6.1 percent, the most in more than a month, to 476.4 koruna after the Austrian lender published fourth-quarter profit that beat analysts’ estimates and said it is close to filling its capital shortfall.

New World Resources Plc (NWR CP), the biggest Czech coking-coal producer, rose 1.3 percent to 158.5 koruna, with traded volume at almost four times the three-month daily average. The stock earlier jumped as much as 4.2 percent after the Daily Telegraph reported that Polish rival Jastrzebska Spolka Weglowa SA held talks to merge with NWR. It pared the rally after JSW denied the report.

Telefonica Czech Republic AS (SPTT CP) rose 0.9 percent to 406.5 koruna, the highest close in six months. The phone company was raised to “buy” from “neutral” at UBS AG, citing an improved dividend outlook.

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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