Hungarian Stocks Rise to Three-Week High on Growth Prospects
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Hungarian stocks rose to the highest in more than three weeks on optimism U.S. employment data this week will point to a continuation of recovery in the economy, boosting demand for higher-yielding, emerging-market assets.
The benchmark BUX index of 12 companies added 2 percent to 21,745.86, the strongest closing level since Dec. 8. Magyar Telekom Nyrt., the country’s former phone monopoly, gained 4.7 percent to 540 forint, the most since May, and OTP Bank Nyrt., Hungary’s largest lender, surged 2.6 percent, the most in a month, to 5,150 forint.