Magyar Telekom Retreats to Record After MSCI Cut: Budapest Mover
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Magyar Telekom Nyrt., Deutsche Telekom AG’s Hungarian unit, fell to a record after MSCI Inc. said it will remove the shares of from its emerging-markets index, while adding those of Gedeon Richter Nyrt.
The phone operator’s stock declined as much as 5.1 percent and closed 3.1 percent lower at 285 forint in Budapest, the weakest since listing in November 1997. More than 5.3 million stocks traded, almost 4 times the three-month daily average. Richter, Hungary’s largest maker of medicines, rose 3.5 percent. The BUX index gained 0.3 percent.