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.
Mol Nyrt., Hungary’s largest refiner, rose the most in three weeks after a European Union court overturned a decision ordering the company to repay state aid of about 30.4 billion forint ($136 million).
Emerging-market stocks retreated for an eighth day, capping the longest slide since 2006, as a decline in India’s rupee to an eight-week low sank the nation’s shares and spurred concern capital inflows will slow.
INA Industrija Nafte d.d., the Croatian oil refiner controlled by Hungary’s Mol Nyrt., said nine-month profit slumped 59 percent as the European Union’s newest member state struggles to exit a recession.
Nomura Holdings Inc.’s quarterly profit rose less than analysts estimated as demand for Japanese stocks waned, signaling an earnings boom stemming from Prime Minister Shinzo Abe’s economic stimulus may be losing momentum.