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Komercni Banka Rises From Three-Month Low Before U.S. Home Data

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April 24 (Bloomberg) -- Komercni Banka AS, the Czech unit of Societe Generale SA, rebounded from a three-month low after countries including Spain and the Netherlands sold debt and before data that may show home sales in the U.S. increased.

The stock climbed 1.2 percent to 3,355 koruna by 11:33 a.m. in Prague. The 14-member PX equity index, where Komercni Banka has a 17 percent weighting, advanced 1 percent.

Komercni Banka tumbled 3.1 percent yesterday to its lowest since Jan. 17, cutting the stock’s 14-day relative strength index to 25. Readings lower than 30 suggest to some technical analysts the security may increase. The RSI rose to 31 today.

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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