Erste Group Bank AG (EBS) led Czech shares lower, paring the biggest weekly gain in four months for the country’s index, after the U.S. Federal Reserve damped expectations for monetary stimulus and German exports dropped.
Austria’s Erste slid 1.1 percent to 365 koruna by 9:30 a.m. in Prague, paring gains this week to 2.5 percent. The PX (PX) gauge, in which Erste has an 18 percent weighting, fell 0.5 percent. The benchmark is still up 3.4 percent this week, headed for the biggest rally since the five days ended Feb. 3.
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