Hungary's Forint Posts Weekly Drop Versus Euro as Investors Avoid Risk

(Bloomberg) -- The Hungarian forint posted its
biggest weekly drop against the euro in 10 months as tumbling
global stocks and concern about U.S. subprime mortgage losses
prompted investors to shun emerging markets.

The forint was the worst performer against the euro over the
past five days, sliding more than 2 percent, as the NTX Index of
stocks in central Europe's 30 largest companies declined the most
in a week since March. Investors reversed trades where they'd
bought the forint to take advantage of Hungary's 7.75 percent
interest rate, also sending the currency tumbling.


Read more at Bloomberg Currencies News

Hungary's Economy Minister Janos Koka Says He Will Resign by Year's End

(Bloomberg) -- Hungarian Economy Minister Janos Koka
will leave his post by the end of the year to devote more
attention to leading the Free Democrats' Alliance, the junior
coalition party.

``A party leader has enough to do even without government,''
Free Democrat board member Gabor Horn said this morning in an
interview with Hungary's TV2. ``He has told us, and the board has
accepted the decision, that he will leave the Economy Ministry by
the end of December.''


Read more at Bloomberg Emerging Markets News

Hungarian Stocks Lead Declines in Central Europe: World's Biggest Mover

(Bloomberg) -- Hungary's benchmark index fell from
a record, pacing declines in central European stock markets.

Mol Nyrt. tumbled after Deutsche Bank AG recommended
selling the stock and Hungary's prime minister said he will
fight a takeover of the country's largest oil company.


Read more at Bloomberg Stocks News