Bloomberg News

Czech Stocks Pare Best Weekly Gain in Four Months as Erste Drops

June 08, 2012

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.

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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