Bloomberg News

Hungary Stocks: Est Media, OTP, Magyar Telekom Move in Budapest

April 17, 2012

Hungary’s benchmark BUX (BUX) stock index rose for a second day, up 1.3 percent to 17,594.98 by the close in Budapest.

The following rose or fell in the Hungarian market today. Stock symbols follow company names.

Est Media Vagyonkezelo Nyrt. (ESTMEDIA HB), a Hungarian entertainment company, fell for a second day after the company said yesterday it will issue bonds to help refinance debt. The shares dropped 9.2 percent to 99 forint today after a 4.4 percent decline in the previous session.

Magyar Telekom (MTEL HB), Hungary’s former monopoly controlled by Deutsche Telekom AG, rose as much as 0.9 percent to 557 forint before paring its earlier gain to close unchanged at 552 forint. Magyar Telekom (MTEL) shareholders yesterday approved a 50 forint per share dividend.

OTP Bank Nyrt. (OTP) , Hungary’s largest lender, jumped 2.9 percent to 3,522 forint. The International Monetary Fund raised its global growth forecast and concern Europe’s debt crisis will worsen eased as Spain’s bonds gained. Hungary will manage to obtain a bailout from the IMF, Raiffeisen Bank International AG said 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


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus