Bloomberg News

Hungary Stocks: OTP Bank, Richter, FHB Move in Budapest Trading

May 18, 2012

The benchmark BUX (BUX) index rose 1.5 percent to 16,530.66 by 2:21 p.m. in Budapest, snapping five days of declines.

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 with operations in nine European countries, rose 3.2 percent to 3,404 forint, paring its weekly drop to 8.6 percent. Central and eastern Europe’s economic outlook improved in May, the ZEW Center for European Economic Research and Erste Group Bank AG said.

Gedeon Richter Nyrt. (RICHT) , Hungary’s biggest drugmaker, added 2.2 percent to a one-week high of 36,500 forint.

Foldhitel es Jelzalogbank Nyrt. (FHB HB), a Hungarian mortgage lender, declined as much as 2.3 percent and last traded 0.4 percent lower at 510 forint. Hungary’s planned bank transaction tax may lead to the country losing half of its bank deposits within weeks, Mihaly Patai, president of the Bank Association, told HVG.hu in an interview.

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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