Bloomberg News

Hungary Stocks: Richter, OTP Bank, E-Star Move in Budapest Trade

June 05, 2012

The benchmark BUX (BUX) index fell 0.6 percent to 16,398.39 by the close in Budapest.

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

Gedeon Richter Nyrt. (RICHT) , Hungary’s biggest drugmaker, fell for the first time in four days after Origo reported late yesterday that the government will further cut spending on drug subsidies. The shares dropped 0.7 percent to 36,500 forint.

OTP Bank Nyrt. (OTP) , Hungary’s largest lender, rose 0.8 percent to 3,350 forint. European stocks rose, snapping four days of losses, amid speculation that policy makers around the world will take steps to stimulate economic growth.

E-Star Alternativ Nyrt. (ESTAR HB), a Hungarian energy company, rallied 15 percent to 1,637 forint, the biggest gain since August 2009. The stock’s 15 percent plunge yesterday pushed its 14-day relative strength index to 18. RSI below 30 indicates to some analysts that a security is oversold. E-Star’s Polish unit received an offer for a loan from Bank Zachodni WBK SA, E-Star said 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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