VIG, Erste Group Tumble, Lead Czech Shares Toward Two-Month Low

Vienna Insurance Group AV and Erste Group Bank AG led a drop in Czech shares as euro-area manufacturing contracted an eighth month and unemployment rose to the highest in more than 14 years.

VIG fell 2.4 percent to 799 koruna by 12:38 p.m. in Prague and Erste retreated 0.8 percent to 423.5 koruna. The 14-member PX gauge, where the two Austrian companies have a combined 32 percent weighting, slid 0.4 percent to 968.8, headed for its lowest close in two months.

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