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Erste Leads Czech Shares Lower as China Damps Stimulus Optimism

Erste Group Bank AG (EBS) of Austria fell, leading Czech shares lower, as investors dumped riskier assets after China damped speculation that it will step up economic stimulus for the world’s second-largest economy.

The stock dropped 1.6 percent to 372 koruna by 10:48 a.m. in Prague, snapping a two-day gain. The PX (PX) index of 14 equities, in which Erste has an 18 percent weighting, fell 0.6 percent.

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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