Bloomberg News

OTP Bank Snaps Four-Day Slide as Stocks Gain on U.S. Retail

April 16, 2012

OTP Bank Nyrt. (OTP), Hungary’s largest lender, snapped four days of losses, lifting the country’s stock index, as a report showed retail sales in the U.S. rose more than forecast in March.

The shares gained 1.5 percent to 3,424 forint by the close in Budapest. The benchmark BUX stock index added 0.2 percent and Hungary’s currency depreciated 0.1 percent to 297.85 per euro.

OTP retreated as much as 2.4 percent earlier today as Prime Minister Viktor Orban’s government objected to political conditions for an International Monetary Fund credit line.

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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