Gedeon Richter Snaps Two-Day Gain, Leads Hungarian Stocks Lower
Gedeon Richter Nyrt., Hungary’s biggest drugmaker, snapped two days of gains, leading the country’s stocks lower, after Japan lowered its economic assessment, sapping demand for riskier emerging-market assets.
European and emerging-market stocks declined after the Japanese government lowered its view on personal consumption, home-building, exports, imports and industrial output, while raising its assessment of the labor market.
Japan’s “picture on industrial output and exports is more than gloomy,” Akos Kuti, a Budapest-based analyst at broker Equilor Befektetesi Zrt., wrote in an e-mailed report today.
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