Bloomberg News

Erste Leads Czech Shares Down as Fed Damps Stimulus Expectations

July 12, 2012

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 kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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