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

Erste Group Bank AG 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 equity index, which slid 0.1 percent, erasing earlier gains.

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