Budapest shares slid for the second consecutive day as a sell-off swept through European markets on fears of US President Barack Obama’s plan to curb risk-taking by banks.
The BUX index fell 1.8% to 22,127 points on the day. OTP shares declined 2.5% to Ft 5,940 in heavy trading, despite Thursday’s news of an upgrade from Merrill Lynch.
The slide in equities made its way to the currency market, as the forint weakened against major currencies, trading at Ft 269-272 against the euro, and Ft 191-194 to the dollar.
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