VIG, Erste Group Tumble, Lead Czech Shares Toward Two-Month Low
Vienna Insurance Group AV (VIG) and Erste Group Bank AG (RBAG) led a drop in Czech shares as euro-area manufacturing contracted an eighth month and unemployment rose to the highest in more than 14 years.
VIG fell 2.4 percent to 799 koruna by 12:38 p.m. in Prague and Erste retreated 0.8 percent to 423.5 koruna. The 14-member PX (PX) gauge, where the two Austrian companies have a combined 32 percent weighting, slid 0.4 percent to 968.8, headed for its lowest close in two months.
To contact the reporter on this story: Krystof Chamonikolas in Prague at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org