Bloomberg News

Hungary Stocks: Magyar Telekom, Mol Are Active in Budapest Trade

February 21, 2012

Feb. 21 (Bloomberg) -- Hungary’s benchmark BUX stock index fell 0.8 percent to 19,192.62 as of the close in Budapest. The following are among the most active equities in the Hungarian market today. Stock symbols follow company names.

Magyar Telekom Nyrt. (MTEL HB), Hungary’s former phone monopoly, slumped 1 percent to 574 forint after rising to the highest in more than seven months yesterday. Magyar Telekom’s 1.2 percent jump yesterday pushed the stock’s 14-day relative strength index to 73, the highest since April. A reading above 70 indicates to some technical analysts a security may decline. The RSI last stood at 68.

Mol Nyrt. (MOL HB), Hungary’s largest refiner, declined 1.7 percent to 19,010 forint. The European Commission will propose to withhold subsidies from Hungary, a European official said today. European stocks declined on speculation a Greek bailout deal won’t be sufficient to solve the nation’s debt crisis.

--Editors: Linda Shen, Tim Farrand

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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