Hungary Stocks: OTP Bank, Magyar Telekom Move in Budapest Trade

Hungary’s benchmark BUX stock index fell 0.6 percent to 18,511.92 at the close in Budapest.

The following were among the most active equities in the Hungarian market today. Stock symbols follow company names.

OTP Bank Nyrt. (OTP) , Hungary’s largest lender, fell 2.6 percent to 3,689 forint, the lowest closing level since Jan. 18. Citigroup Inc. cut its recommendation to “neutral” from “buy” on the securities. The European Commission took a formal step toward seeking a court order to require Hungary to redraft laws, escalating a dispute obstructing talks on a bailout.

Magyar Telekom Nyrt. (MTEL) , Hungary’s former phone monopoly, fell for a fifth day after news website Index reported that Hungary is planning to levy a special tax on telecommunications and public-utility companies. The shares declined 0.9 percent to 565 forint.

To contact the reporter on this story: Andras Gergely in Budapest at

To contact the editor responsible for this story: Gavin Serkin at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.