Bloomberg News

E-Star Alternativ Falls to 2-Week Low on Fourth-Quarter Loss

March 01, 2012

Hungarian energy group E-Star Alternativ Nyrt. (ESTAR) fell to the lowest in two weeks after reporting a 3.1 million-euro ($4.1 million) net loss for the fourth quarter of last year.

The shares dropped as much as 6.2 percent and traded 2.8 percent lower at 3,935 forint by the close in Budapest, the lowest since Feb. 17, according to data compiled by Bloomberg.

“The reported results fell short of our expectations,” Peter Szentirmai, a Budapest-based analyst at KBC Groep NV (KBC)’s broker unit, wrote in a research report.

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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