OTP Drops Second Day, Leads Hungarian Shares Down on U.S. Budget

OTP Bank Nyrt., the biggest lender in Hungary, retreated for a second day as concern U.S. lawmakers may fail to reach agreement on budget cuts drove investors from riskier assets worldwide.

The BUX equity gauge slid 1.7 percent to 16,748.82 as of 9:52 a.m. in Budapest. OTP, with a 25 percent weighting in the benchmark, led declines with a 2.5 percent drop to 2,955 forint.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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