Bloomberg News

Hungary Stocks: OTP Bank, Magyar Telekom Are Active in Budapest

February 20, 2012

Feb. 20 (Bloomberg) -- Hungary’s benchmark BUX stock index rose 1.1 percent to 19,354.75 as of the close in Budapest. The following were among the most active equities in the Hungarian market today. Stock symbols follow company names.

OTP Bank Nyrt. (OTP HB), Hungary’s largest lender, advanced 1.5 percent to 4,004 forint after Moody’s Investors Service said central bank moves last week to boost lending were “credit positive” for the country’s lenders and as global appetite for riskier assets rose.

Magyar Telekom Nyrt. (MTEL HB), Hungary’s former phone monopoly, rose to the highest in more than seven months after the company and two other incumbents appealed the approval of a fourth mobile provider’s market entry. The shares rose 1.2 percent to 580 forint, the highest closing level since July 5.

--Editors: Linda Shen, Peter Branton

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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