Bloomberg News

OTP Declines Most in Week on U.S. Jobs Data After Public Holiday

April 10, 2012

OTP Bank Nyrt. (OTP), Hungary’s largest lender, fell the most in a week after a report showed on April 6 that U.S. employers added fewer jobs than expected, damping the outlook for recovery in the world’s biggest economy.

The shares, which didn’t trade during on April 6 and 9 because of the Easter holiday, declined 1.6 percent to 3,689 forint by 9:11 a.m. in Budapest.

“European markets may react today to the American data published on Friday and the direction can hardly be in question,” Balint Torok and Gergely Palffy, analysts at Buda- Cash Brokerhaz Zrt., wrote in a research report today.

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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