Bloomberg News

Hungary Stocks: OTP Bank, CIG Pannonia Shares Move in Budapest

May 21, 2012

The benchmark BUX (BUX) index rose 0.7 percent to 16,599.64 by the close in Budapest, a second day of gains.

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

OTP Bank Nyrt. (OTP) , the country’s largest lender, advanced 2.7 percent to 3,520 forint. Hungary’s government doesn’t plan to introduce any additional taxes, news service MTI reported yesterday, citing an interview with Zoltan Csefalvay, state secretary at the Economy Ministry. European stocks climbed as China’s pledge to boost growth helped offset concern over Greece’s possible exit from the euro.

CIG Pannonia Eletbiztosito Nyrt. (PANNONIA HB), a Hungarian life insurer, fell to a record low after reporting that its net loss widened 76 percent in the first quarter. The shares fell 8.6 percent to 310 forint, the lowest since its listing in November 2010.

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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