Mol Nyrt. fell to a two-year low after Hungary’s largest refiner warned it may sell its INA Industrija Nafte d.d. unit as talks with the Croatian government over management rights in the company stalled.
Magyar Telekom Nyrt., Deutsche Telekom AG’s Hungarian unit, fell to a record after MSCI Inc. said it will remove the shares of from its emerging-markets index, while adding those of Gedeon Richter Nyrt.
OTP Bank Nyrt., Hungary’s largest lender, plunged the most in 22 months as its top executive sold shares after the cabinet said it may retroactively amend the terms of foreign-currency loans, putting bank earnings at risk.
Hungary’s bonds fell the most in more than a week and the forint dropped after the International Monetary Fund said the country needs to take “tangible steps” on resolving policy issues before aid talks can be resumed.
OTP Bank Nyrt., Hungary’s biggest lender, dropped for a third day to the lowest this year after the country’s banks said they would assume losses as part of plans to phase-out foreign-currency mortgages.
OTP Bank Nyrt., Hungary’s largest lender, tumbled the most in more than a week and volatility surged after a board member sold shares, following a similar move by the chief executive officer less than two weeks ago.