Bloomberg News

Hungary Stocks: OTP, Mol, E-Star Alternativ Move in Budapest

June 06, 2012

The benchmark BUX (BUX) index rose 3.3 percent to 16,941.35 by the close in Budapest, the biggest jump since April 25.

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

OTP Bank Nyrt. (OTP) , Hungary’s largest lender, rose 2.9 percent to 3,448 forint. The country’s lawmakers scheduled a vote for next week on central bank legislation needed to start talks on a bailout. Demand for riskier assets rose as European Central Bank President Mario Draghi said officials stand ready to act as the euro region’s growth outlook worsens and Australia’s economy grew at twice the rate economists estimated.

Mol Nyrt. (MOL) , Hungary’s largest refiner, jumped 5.4 percent to 16,490 forint. Oil rose on speculation that monetary policy makers will act to spur economic growth, boosting fuel demand.

E-Star Alternativ Nyrt. (ESTAR) , a Hungarian energy company, rallied 15 percent to 1,882 forint, taking its gains in the past two days to 32 percent. E-Star’s Polish unit received an offer for a loan from Bank Zachodni WBK SA, E-Star said yesterday.

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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