Erste Group Bank AG (RBAG) of Austria led Czech shares lower after the U.S. Federal Reserve failed to signal more quantitative-easing measures to spur growth in the world’s largest economy, driving investors from riskier assets.
The stock slid 1.6 percent to 377 koruna by 9:42 a.m. in Prague, snapping two days of gains. The 14-member PX (PX) index, in which Erste has a 20 percent weighting, dropped 0.6 percent.
To contact the reporter on this story: Krystof Chamonikolas in Prague at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org