Bloomberg News

Hungary Stocks: OTP Bank, Mol, Magyar Telekom Move in Budapest

May 14, 2012

Hungary’s benchmark BUX (BUX) index slumped 1.8 percent to 17,009.32 by the end of trading in Budapest, the lowest close since Jan. 11.

The following were among the most active shares in the Hungarian market today. Stock symbols follow company names.

OTP Bank Nyrt. (OTP) , Hungary’s largest lender, declined 2.5 percent to 3,629 forint. European stocks retreated after Greek parties failed to form a government, increasing concern that the region’s debt crisis will deepen.

Mol Nyrt. (MOL) , Hungary’s largest refiner, weakened 1.5 percent to 16,250 forint. Oil fell to the lowest price in almost five months in New York as Saudi Arabia’s petroleum minister said Brent crude should fall to about $100 a barrel.

Magyar Telekom Nyrt. (MTEL HB), the Hungarian unit of Deutsche Telekom AG, fell 1.7 percent to 454 forint. Magyar Telekom and Hungary’s two other mobile service providers today called on the government to withdraw a draft bill on a new telecommunications tax and asked for talks to formulate a new version that is “sustainable.”

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


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus