Bloomberg News

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

May 15, 2012

The benchmark BUX (BUX) index fell 0.8 percent to 16,877.46, the lowest since January, by the close in Budapest.

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

OTP Bank Nyrt. (OTP) , Hungary’s largest lender, slipped 2.2 percent to 3,550 forint as the company said first-quarter net income plunged 66 percent. The economy contracted more than economists estimated in the first quarter, according to data from the Budapest-based statistics office today. Greece headed for new elections, increasing concern the debt crisis will escalate.

Magyar Telekom Nyrt. (MTELEKOM HB), the Hungarian unit of Deutsche Telekom AG, fell 0.4 percent to 452 forint, sliding for a sixth day. HSBC Holdings Plc cut its target price for the shares to 480 forint from 520 forint.

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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