OTP Bank Nyrt., Hungary’s largest lender, will have its weighting increased in the country’s benchmark index from Oct. 1 as part of the Budapest Stock Exchange’s semi-annual review.
Gedeon Richter Nyrt., Hungary’s largest drugmaker, rose to the highest in a week after first- quarter profit declined less than expected even as sales prospects deteriorated in Russia and Ukraine.
Hungary’s BUX Index rose 654.99, or 3.7 percent, to 18,475.14 by 4:42 p.m. in Budapest, the highest level since Oct. 3.
The weighting of Hungary’s largest lender, OTP Bank Nyrt., will rise in the Budapest Stock Exchange’s benchmark BUX Index on Oct. 1 to 29.5 percent from 23.5 percent set on March 24, the bourse said today.
Hungarian stocks snapped the longest rally in more than a year on the last trading day before parliamentary elections that opinion polls show will be won by Prime Minister Viktor Orban.
Hungary’s stock index fell, paring this week’s advance as OTP Bank Nyrt., oil refiner Mol Nyrt. and drugmaker Gedeon Richter Nyrt. slid more than 1.7 percent.