Bloomberg News

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

June 22, 2012

The benchmark BUX (BUX) index fell for a third consecutive day, down 1.5 percent to 17,232.59 by the end of trading in Budapest, capping a 0.1 percent weekly drop.

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, retreated 4.1 percent to 3,535 forint in the biggest slump in almost a month. German business confidence fell to the lowest in more than two years in June as the worsening sovereign debt crisis clouded the economic outlook for Hungary’s biggest trading partner.

CIG Pannonia Eletbiztosito Nyrt. (PANNONIA HB), a Hungarian life insurer, rose 3 percent to 305 forint, the only stock in the 11-member BUX basket to rise more than 1 percent today. The European Union is considering phasing in new capital rules for the life insurance industry over seven years, easing the burden on insurers who had criticized the changes.

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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