Bloomberg News

Hungary’s OTP Rises Most in Week Lifting BUX as PMI Improves

January 02, 2012

Jan. 2 (Bloomberg) -- OTP Bank Nyrt., Hungary’s largest lender, rose the most in more than a week after a gauge of business confidence improved.

The shares jumped 1.5 percent to 3,265 forint, the biggest intrday advance since Dec. 23, after plunging 36 percent last year. The benchmark BUX index, in which OTP has a 27 percent weighting, rose 0.6 percent to 17,082.60.

The purchasing managers’ index rose to 48.5 points in December from 47.8 points the previous month, the Logistics, Purchasing and Inventory Society known as MLBKT said in a report today. Financial markets from Japan to the U.K. and the U.S. are closed for a holiday.

--Editors: Ash Kumar, James Kraus

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

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


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