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Fund managers not thrilled with Hungarian stocks - Portfolio.hu Poll

While the fund managers polled every month by Portfolio.hu are not as unified as a month ago, half of them still believe the main index of the Budapest... 

Hungary remains the most puzzling investment case - Goldman Sachs

Hungary remains the most puzzling investment case in CEEMEA, Goldman Sachs has said in its latest research note on the region. GS economists see... 

ANALYST VIEW - Markets credit new Hungarian government (Reuters poll) (2)

June 2010 saw a turnaround point in Hungary’s macro outlook trends; increasing 2010 budget deficit expectations have come to a halt for the first... 

Orbán's 29 points: Right direction with feasibility risks

By István Madár The Hungarian government’s 29-point action plan presented on Tuesday by Prime Minister Viktor Orbán has basically made a good impression... 

Slow recovery awaits Hungary's real estate market in 2011 - Portfolio.hu Poll

Realtors are no longer waiting for a miracle in 2010, but they clearly see a moderate recovery in store for 2011. The majority of leading market players... 
Equity

Futures turnover down almost 30% yr/yr on the Budapest bourse in Aug

The trading volume on the Budapest Stock Exchange’s(BSE) futures market declined by 27% year on... 

Budapest stock market turnover contracts further in Aug, IPOPEMA wins bronze

Turnover on the Budapest Stock Exchange’s (BSE) spot section dropped further in August after contracting... 

Hungary Richter announces results from a Phase II study for Cariprazine

Hungary’s Gedeon Richter Plc. and US-based Forest Laboratories, Inc. have on Monday announced preliminary... 

IBM to set up new service centre in Slovakia

Slovakia is tipped as the most likely location to be selected by IBM for its new customer service centre... 

Croatian MOL affiliate INA ready to launch Diesel plant

Croatian oil company INA, an affiliate of Hungary’s MOL, will be soon ready to launch its new Diesel... 

Credit Agricole launches CEE centre in Budapest

As part of a new organizational structure, Credit Agricole Corporate and Investment Bank (CA-CIB) has... 

Telenor gears up for upgrades in Hungary with China-based ZTE (2)

Chinese telecom infrastructure company ZTE has been awarded a USD 200 million contract by Telenor. The... 

ANALYST VIEW - New target prices for Hungary's OTP Bank (Citibank, Goldman) (2)

Last Friday saw Citibank raise the target price of OTP Bank stocks, while Goldman Sachs lowered its expectations... 

ANALYST VIEW - MOL stocks a good pick to buy (KBC) (2)

KBC has modified its earlier “Hold" rating of Hungarian energy group MOL to “Buy". The improved... 

ANALYST VIEW - Morgan Stanley raises target price for Hungary's Egis, with OW rating

Morgan Stanley has raised its target price for Hungarian drugs maker Egis to HUF 29,050 from HUF 27,400... 

ANALYST VIEW - Raiffeisen trims target price for Hungary's Magyar Telekom, keeps rating

Raiffeisen has on Tuesday trimmed its target price for Hungary’s Magyar Telekom to HUF 721 from... 

Hungary MOL management turns more upbeat

Hungarian fuels group MOL has a slightly better outlook on external conditions for the second half of... 
Markets (HU)

Hungary Csányi sells EUR 5.5 m worht of OTP shares

Sándor Csányi, Chairman-CEO of Hungary's OTP Bank, sold HUF 1.49 billion (EUR 5.53 m) worth of OTP shares... 

Feeble demand for 3-m Hungarian bills, rate cut expectations cooler

Demand was unusually weak for Hungary's 3-month discount Treasury bills (D100106) at an auction held... 

Hungary forint moored to 270 vs. EUR

Hungary's forint seems to be anchored to 270 versus the euro, while we see mixed signals from global... 

Hungary cuts 12-m bill auction HUF 15 bn, ÁKK Deputy CEO tells why

Hungary’s Government Debt Management Agency (ÁKK) has on Thursday cut its 12-month T-bill auction... 

JKX to start well test in Hungary in mid-Sep

JKX Oil & Gas plc, a FTSE 250 exploration and production company, has confirmed an agreement on Thursday... 

At this pace it would take 83 years to replace every used car in Hungary

The number of new passenger cars registered in Hungary has not reached 3,000 in August. Although this... 

Hungary revises trade figures, posts massive surplus in June

Hungary posted a EUR 564 million trade surplus in June, according to revised data published by the Central... 

Hungary manufacturing PMI drops in August, still shows expansion (2)

(Adds eurozone PMI data) Hungary's manufacturing purchasing manager index (PMI) declined by 1.6 percentage... 

Givaudan to build EUR 130 million production facility in Hungary

Switzerland’s Givaudan, the global leader in the fragrance and flavour industry, has announced... 
News

Hungary grants EUR 20 m loan to troubled airline Malév

Hungary’s recently renationalised airline, Malév, has received another HUF 5.7 billion (EUR 19.9... 

Hungary forint firms to 284 vs. EUR, eyes on afternoon events

Hungary’s forint managed to remain on higher grounds it reached against the euro on Wednesday... 

Hungary Jobbik sees the solution to "Gypsy crime" in "public security zones"

A MEP of Hungary’s radical right-wing parliamentary party, Jobbik, proposed to set up “public... 

Hungary forint corrects back from all-time low vs. CHF

Hungary’s forint made up for some of its losses versus the Swiss franc and corrected back from... 

Raiffeisen CEO says Hungarian bank tax excessive, will hit growth - Portfolio.hu Interview

Hungary’s new levy on the financial sector, from which the government hopes to raise HUF 187 billion... 

Does Hungary need more fiscal restraint? - c.bank

The National Bank of Hungary painted a gloomy picture of Hungary’s fiscal outlook in its August... 

Hungary forint slumps to record low vs. CHF (3)

(Updates) Clouds are still hovering over Asian markets and showers that are washing away stock indices... 

Hungary lifts 3-m T-bill auction HUF 10 bn over heavy demand

Hungary’s Government Debt Management Agency (ÁKK) has received massive HUF 163 billion worth of... 

IMF enhances crisis-prevention credit lines

The International Monetary Fund (IMF) announced that it has expanded and enhanced its lending tools to... 

Hungary industrial PPI drops to 0.2% in monthly terms, picks up to 8.7% yr/yr

Hungary's industrial producer prices rose 0.2% in monthly terms in July, decelerating from +1.4% in June... 

Hungary investments drop 0.6% q/q in Apr-June vs. 0.5% growth in Q1

The volume of investments declined by 0.6% in Hungary in quarterly terms in the April-June period, according... 

Hungary may want money, but no economic policy dictate by the IMF - Orbán

Hungary needs to pursue a much bolder and offensive foreign policy, said Prime Minister Viktor Orbán... 

Hungary MKB boosts provisions in H1, parent sees HUF 50 bn cost from new bank levy

MKB Bank, the Hungarian unit of Germany’s state-controlled Bayerische Landesbank, incurred a pre-tax... 

Rogoff says Greece will go down eventually, Hungary is "potential wobbler" too

Harvard University professor Kenneth Rogoff is expecting a few eastern European countries to go bust... 

Markets will reward Hungary if it tidies up its own yard first - Kopits

Hungary's new government must act to anchor fiscal expectations and will be rewarded by the markets if... 

Hungary forint starts week steady vs. EUR

Hungary’s forint started the week at 283 to the euro, where it left off last Friday. With London... 

Bernanke speech builds confidence, lends support to Hungarian forint

Friday’s midday faltering was followed by intense appreciation of the Hungarian forint, supported... 

Hungary forint receives sudden blow as markets await US news (2)

With markets poised to respond to Friday’s latest US GDP report and the upcoming Ben Bernanke speech... 

ANALYST VIEW: HUF/CHF headed towards 230, strategists concerned (ZeroHedge, UniCredit, SocGen)

As the CHF/HUF rate rose to an all-time high of 220, the past 48 hours saw several analysts come up with... 

Hungary benign job market trends halted

The previous months’ promising job market trends in Hungary came to a halt in the 3 months to July... 

Swiss franc climbs close to peak overnight

FX rates with relevance for Hungary stood at yesterday afternoon’s level this morning CET, however... 
Commentary

ANALYST VIEW - Hungarian drugmaker Egis trading well below true value, Richter overpriced (Morgan Stanley) (2)

Morgan Stanley’s first target price for Hungarian pharmaceutical Egis is a hulking HUF 27,400 per... 

Hungary's PannErgy remains one of Erste's top picks

While sentiment has been fairly good so far, the news from Greece sent markets nose-diving shortly. Also... 

Analysts on "promising" discovery of Hungary's MOL in Iraq

Hungarian oil and gas group MOL has made a “promising" discovery in the Akri-Bijeel oil block in... 

ANALYST VIEW - Hungary's inflation may lift HUF - BNP Paribas

Hungary’s forint may strengthen against Poland’s zloty as rising inflation in Hungary damps... 
 

Managing non-paying office tenants


Ákos Becher, partner, DLA Piper International Law Firm 
 
 

Current Rates
MOL21,300(-1.3%) 
MTELEKOM683(-0.6%) 
OTP4,835(-2.9%) 
RICHTER47,640(0.7%) 
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