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

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May 7 (Bloomberg) -- Erste Group Bank AG 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