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Czech Stocks Reverse Gains as Erste Group Drops on Spain Concern

June 18 (Bloomberg) -- The Czech Republic’s equity index reversed earlier gains, led by a drop in Erste Group Bank AG, as Spanish yields rose to a euro-era record, overshadowing a victory of Greek pro-bailout parties in general elections.

The PX gauge of 14 companies slid 0.2 percent to 883.40 at 3:23 p.m. in Prague, after earlier increasing as much as 1.1 percent. Austria’s Erste, which has a 17 percent weighting in the Czech benchmark, dropped 2.2 percent to 360 koruna.

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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