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CIG Pannonia Rallies Most in Hungary, Rebounding From Record Low

CIG Pannonia Eletbiztosito Nyrt. (PANNONIA), a Hungarian life insurer, rebounded from its lowest on record and was the best performer on the benchmark stock index today.

The stock jumped 2.7 percent to 271 forint by 9:57 a.m. in Budapest, the most in the BUX (BUX) gauge, which gained 0.8 percent.

CIG Pannonia tumbled 37 percent last month to its lowest since the company started traded in November 2010, driving the stock’s 14-day relative strength index to 19 yesterday. Readings lower than 30 suggest in technical analysts an asset may gain. The RSI rose to 23 today.

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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