Erste Falls Second Day, Leads Czech Stocks Lower on U.S. Report

Erste Group Bank AG (EBS) fell for a second day, leading Czech stocks lower after a U.S. report showed sales of previously owned homes unexpectedly fell in the world’s largest economy, driving investors from riskier assets.

Austria’s Erste retreated 0.9 percent to 456 koruna by 4:08 p.m. in Prague, poised for its biggest one-day decline since March 12. The lender was the second-worst performer in the 14- member PX (PX) equity index, which slid 0.1 percent, erasing earlier gains.

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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