Mol Nyrt. (MOL), Hungary’s largest refiner, headed for the biggest gain in almost three weeks after announcing a cost-cutting plan and first-quarter profit that beat analysts’ estimates.

The shares rose as much as 2.5 percent and added 1.6 percent to 16,515 forint by 9:50 a.m. in Budapest, the biggest rally on a closing basis since April 25.

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