Hungarian Stocks Decline to Two-Week Low on Egyptian Protests
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Hungarian stocks fell to the lowest in two weeks as protests in Egypt reduced investors’ appetite for emerging-market assets.
The benchmark BUX index retreated 0.6 percent to 22,709.35 by the 5:06 p.m. close in Budapest, the lowest closing level since Jan. 17, led by Magyar Telekom Nyrt., the country’s former phone monopoly, which declined 2.2 percent. The forint reversed losses of as much as 0.6 percent and traded 0.1 percent stronger at 272.81 per euro.