Bloomberg News

Hungary Stocks: Refiner Mol, OTP Bank Shares Move in Budapest

May 31, 2012

The benchmark BUX (BUX) index rose 0.8 percent to 16,099.82 by the end of trading in Budapest after closing at the lowest level since October yesterday. That brings the gauge’s monthly drop to 12 percent.

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

Mol Nyrt. (MOL) , Hungary’s largest refiner, rebounded from the lowest close in more than seven months as a technical indicator signaled the company’s slump was overdone. The stock added 1.4 percent to 15,000 forint. Mol’s 3.9 percent plunge yesterday pushed its 14-day relative strength index to 25, below the 30 level that indicates to some analysts a stock is oversold.

OTP Bank Nyrt. (OTP) , fell to 3,338 forint from yesterday’s close of 3,460 forint as the stock began trading without the right to a dividend today.

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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