Erste Group Bank AG (EBS) of Austria fell, leading Czech shares lower after the U.S. Federal Reserve cut growth estimates for the U.S. economy and a report showed Chinese manufacturing may shrink for an eighth month.
The stock dropped 1.3 percent to 364 koruna by 10:13 a.m. in Prague, after gaining 2.6 percent in the previous two days. The 14-member PX (PX) equity index, in which Erste has a 19 percent weighting, declined 0.4 percent, its second day of losses.
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