Hungarian Stocks Rise to Six-Month High on U.S. Jobs Report

Hungarian shares rose to the highest in six months and the forint advanced after a report showed that the U.S. economy added more jobs last month than economists had predicted.

The benchmark BUX stock index added 0.7 percent to 19,665.68 by the close in Budapest, the third day of gains. The gauge has added 2 percent in the past five days for a fourth week of advances, the longest such run since September 2010. The forint appreciated 0.3 percent to 290.91 per euro, capping a fifth week of gains.

The 243,000 increase in U.S. payrolls was the most since April and exceeded all forecasts in a Bloomberg News survey, Labor Department figures showed in Washington. The unemployment rate dropped to 8.3 percent, the lowest since February 2009.

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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