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Jan 05, 2017

Hungarian stocks hit another all-time high

Hungarian stocks were up 0.2 percent this morning, with Warsaw down a third of a percent and Prague flat

Hungarian stocks have hit another all-time high, the fourth record in as many sessions, it has been reported today.

According to Reuters, the stock boost is off the back of a strong showing by drug maker Richter, which said it planned to boost its global standing after a strong year last year.

Richter gained 1.7 percent, outperforming peers, after CEO Erik Bogsch said the company planned to be "much more aggressive" in female healthcare product acquisitions and strengthen its footing in Latin America and China.

Oil group MOL, which led gains on Wednesday, corrected a little, while the country's top bank OTP extended gains slightly after reaching a fresh nine-year high earlier this week.

Hungarian stocks were up 0.2 percent this morning, with Warsaw down a third of a percent and Prague flat.

Currencies were weaker or little changed with regional units tracking the EUR/USD cross.. Hungary's forint fell slightly against the euro, following the dollar's gains most closely, an analyst told Reuters.