OTP Pares Losses, Hungarian Forint Gains on U.S. Employment Data
OTP Bank Nyrt., Hungary’s largest lender, pared losses and the forint gained after larger-than- forecast growth in U.S. jobs tempered concern that the world’s largest economy was slowing.
OTP’s shares erased losses of as much as 3.4 percent to trade down 0.3 percent at 3,260 forint at 2:46 p.m. in Budapest. The benchmark BUX index slumped 1.1 percent, paring a slide of as much as 2.8 percent. Hungary’s currency appreciated 0.4 percent to 295.64 per euro.
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