Bloomberg News

Hungary’s OTP Bank Rises Second Day, Extending Quarterly Jump

March 30, 2012

OTP Bank Nyrt. (OTP), Hungary’s largest lender, rose for a second day, extending its biggest quarterly advance in two years.

The shares gained 0.4 percent to 3,866 forint by 12:31 p.m. in Budapest. A close at that level would mean a 3.3 percent slump in March and a 20 percent increase in the first three months of 2012, the best quarterly performance since the same period of 2010.

European stocks rose, trimming weekly losses, as euro-area finance ministers began talks to bolster the region’s rescue funds and investors awaited a report that may show American consumer spending increased.

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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