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Hungary Stocks: OTP Bank, Magyar Telekom Move in Budapest

May 24 (Bloomberg) -- The benchmark BUX index rose 0.6 percent to 16,327.49 by the close in Budapest.

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

OTP Bank Nyrt. (OTP HB), the country’s largest lender increased 1.1 percent to 3,412 forint. Hungary may start formal negotiations with the International Monetary Fund and the European Union on financial aid after Parliament passes amendments to the central bank law on June 4, state news service MTI said late yesterday, citing the Economy Ministry.

Magyar Telekom Nyrt. (MTELEKOM HB), the Hungarian unit of Deutsche Telekom AG, advanced 2.1 percent to 432 forint. Hungary may lower the upper limits of a recently approved tax on phone calls in 2012, news website Portfolio reported today, citing amendments submitted by lawmakers.

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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