Mol Poised for 2-Week High Before MSCI Weight Boost Takes Effect
The shares jumped as much as 2.1 percent before trading up 2 percent at 18,030 forint by 12:09 p.m. in Budapest. The amount of shares traded amounted to 40 percent of the three-month daily average, data compiled by Bloomberg show.
MSCI lifted Mol’s weighting 9.73 percentage points to 42.03 percent in its Hungary Index, effective Dec. 3, according to a report on its website on Nov. 15.
MSCI also boosted the weighting of Magyar Telekom Nyrt., the Hungarian unit of Deutsche Telekom AG (DTE), raising it by 2.32 percentage points to 10 percent, according to the report. The weighting of OTP Bank Nyrt. (OTP), Hungary’s largest lender, will rise 11.11 percentage points to 47.97 percent, the report said.
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