Erste Group Bank AG (EBS) of Austria led Czech shares lower after a two-day rally as euro-region economic confidence declined more than forecast and Italy’s funding costs rose at a debt auction, hurting demand for riskier assets.
The stock tumbled 2.9 percent to 423 koruna by 11:57 a.m. in Prague, snapping a 7.9 percent gain in the previous two days. The PX (PX) index of 14 equities, where Erste accounts for 19 percent of the weighting, dropped 0.7 percent.
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