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INSTANT VIEW - Hungary's CPI eases to 5.7% yr/yr in Feb (4)

(Adds comment by HSBC on page2) Hungary's consumer prices rose by 5.7% year on year in February, undershooting the 6.0% consensus estimate of analysts... 

Hungary Magyar Telekom to provide gas and electricity services (3)

(Adds more info from meeting with journalists, Portfolio.hu viewpoint) Management of Hungarian telecoms group Magyar Telekom have on Thursday confirmed... 

EUR interest rates on the rise - What options do we have?

For over a year, the European Central Bank (ECB) has kept rates low in an effort to stimulate the economy and curb the effects of the financial crisis... 

Read between the lines of Hungary's election promises - A civilian "lie detector"

Hungarian economists have launched an independent civilian initiative to see what the sometimes cloudy, boisterous, humbug or downright ridiculous promises... 

PwC Alert - Hungary amends Labour Code

On 1 February 2010, certain amendments to the Labour Code came into force, while other amendments will take effect from 1 May 2010. In its latest Tax &... 
Equity

Hungary econet.hu posts negative EBITDA even in Q4 2009

Hungary’s econet.hu posted HUF 2.1 billion revenues in 2009, but it incurred a HUF 630 million... 

Magyar Telekom wins Best Corporate Governance Award in Hungary

Magyar Telekom, Hungary’s leading telecoms group, has won the award for Best Corporate Governance... 

Orco Safeguard Procedure extended by three months

Real estate developer Orco Property Group S.A. and its subsidiary Vinohrady S.A.R.L. have announced that... 

E.On cuts EBITguidance for 2010

German utility giant E.ON has on Wednesday published worse-than-expected earnings figures for the fourth... 

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 - Goldman Sachs cuts TP, keeps 'Sell' rating for Hungary's Magyar Telekom

Goldman Sachs has trimmed its (6-month) target price for Hungarian telecoms group Magyar Telekom to HUF... 

ANALYST VIEW - UBS ups target price for Hungary's MOL over Iraqi discovery

UBS has on Wednesday raised its target price for Hungarian fuels group MOL to HUF 21,500 from HUF 20,500... 

Hungary MOL makes discovery in Akri-Bijeel block in Kurdistan

Hungarian oil and gas group MOL has made a discovery in Akri-Bijeel Block in Kurdistan Region of Iraq.... 

Hungarian power distributors ÉMÁSZ, ELMŰ select Telvent Technology

Hungarian electricity distributor companies ELMŰ and ÉMÁSZ have selected Nasdaq-listed Telvent Technologies... 

Orco convenes warrantholders general meeting for 25 March

Property group Orco is to hold a general meeting for warrantholders on 25 March. At the meeting they... 

ANALYST VIEW - JPMorgan sharply raises target price for Hungary's OTP Bank (2)

(Adds details, charts) JPMorgan has on Monday sharply raised its target price for Hungary’s OTP... 

Erste Bank takes Hungary's Állami Nyomda on top picks board

The recovery from recession is still intact, but the indications are that the easy gains are over and... 
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... 

Croatia's INA to decide on convertible bond issue in March

Croatian oil group INA, in which Hungary’s MOL holds a 47% stake, is still discussing a possible... 

Surgut has no intention to sell stake in Hungary's MOL - CEO

Russia’s state-owned Surgutneftegaz has no intention to sell its 21% stake in Hungarian fuels group... 

Hungary adamant on deficit forecast despite massive gap seen in Q1

Hungary does not modify its budget deficit forecasts either for the first quarter or the whole year and... 

Healthy bids, lower yields, above-plan sales at Hungary's bond auctions

Hungary’s Government Debt Management Agency (ÁKK) has received strong bids for three lots of government... 

Far-right Jobbik almost catches up with Hungary's Socialists in popularity

Support for Hungary’s main opposition party Fidesz and the ruling Socialist Party (MSZP) has dropped... 

INSTANT VIEW - Hungary's trade balance shows EUR 290 m surplus in Jan (2)

(Adds comment by Concorde Securities) Hungary posted a EUR 290.4 million trade surplus in January, the... 
News

Hungary becomes majority owner of Malév again, increases capital

Hungary has carried out the capital increase at Malév on Thursday and so it has become the 95% owner... 

Ascent Resources completes test of Hungarian well PEN-101

Ascent Resources plc, the AIM-traded oil and gas exploration and production company, has announced that... 

Hungary posts EUR 290 m trade surplus in January

Hungary posted a EUR 290.4 million trade surplus in January, the Central Statistics Office (KSH) has... 

Hungary inflation retreats to 5.7% in Feb from 6.4% in Jan, below consensus

Hungary's consumer prices rose by 5.7% year on year in February, undershooting the 6.0% consensus estimate... 

Fitch says Hungarian bank sector likely to recover slowly after severe stress test

Fitch Ratings says in a newly-published report that Hungary's banking sector is likely to demonstrate... 

INSTANT VIEW - Hungary Q4 09 GDP suggests ongoing, but slow recovery

Second estimate of Q4 GDP confirmed that the Hungarian economy contracted by 4.1% year on year (sa) vs.... 

Hungarian economy getting up from the mat, but not even in semi-kneeling position

Hungary’s gross domestic product (GDP) dropped by 4.0% year on year in the fourth quarter of 2009... 

Marriott to double its hotels in Europe by 2015

Marriott International has announced plans to double its hotel portfolio in Europe by 2015, as part of... 

Leni Gas & Oil divests Hungarian gas assets

Leni Gas & Oil plc (LGO), has decided to divest its Hungarian assets. As a result of the company's on-going... 

Hungary to overshoot c.bank inflation goal in 2010 - Portfolio.hu Poll

The surprise jump in Hungary’s inflation to 6.4% in January has made a deep impression on analysts... 

EUR interest rates on the rise - What options do we have?

For over a year, the European Central Bank (ECB) has kept rates low in an effort to stimulate the economy... 

Hungary sells HUF 30 bn 3-m bills, yield hits new record low

The average yield at Hungary’s 3-month discount T-bill auction has dropped further from a 7-year... 

Hungary needs "fiscal dictatorship" - Járai

Hungary would still be on the verge of sovereign default if it was not for the IMF credit, said Zsigmond... 

Hungary Vegyépszer seals EUR 300 m mega deal in Libya

Hungarian construction firm Vegyépszer has won an order worth HUF 80 billion from Libya. The domestic... 

INSTANT VIEW - Hungary's industrial production soars in January (3)

(Adds comment by Crédit Agricole CIB) Hungary’s industrial production rose 3.4% on an annual basis... 

Hungary industrial production jumps 8.8% m/m in Jan vs. 5.9% drop in Dec 09

Hungary’s industrial production jumped by 8.8% month on month in January 2010, according to data... 

Hungary Csányi puts spice in food business by snatching salami maker Herz

Hungary’s competition authority (GVH) has approved Bonafarm Zrt., an interest of OTP Bank Chairman-CEO... 

Fuel prices to go up markedly this week in Hungary

Hungarian fuels group MOL will raise the price of gasoline and diesel by HUF 6 and HUF 3 per litre, respectivley... 

Hungary Fidesz to form fact finding committee, promises 4-yr, 6-yr tax cuts

You cannot put a responsibly conceived economic programme on the table without knowing the true state... 

Hungary deficit target not set in stone - Csányi

Hungary has wasted the past eight years and set very hard conditions for the next eight, said Sándor... 

European Monetary Fund in the making? Misbehaving states to face severe penalties - FT

Germany and France are planning to launch a sweeping new initiative to reinforce economic co-operation... 
Commentary

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... 

ANALYST VIEW - Erste cuts target price for Hungary's Danubius, keeps rating

Erste Bank has on Wednesday lowered its target price for Hungary’s Danubius to HUF 3,400 from HUF... 

ANALYST VIEW - Raiffeisen ups target price for Hungary's MOL, keeps rating

Raiffeisen has raised its target price for Hungarian fuels group MOL to HUF 18,355 from HUF 18,191 previously... 
 

Stagnation or growth?


Ferenc Furulyás, Managing Director, Jones Lang LaSalle 
 
 

Current Rates
MOL19,550(-0.8%) 
MTELEKOM718(0.4%) 
OTP6,200(0.3%) 
RICHTER42,000(0.5%) 
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