Hungarian market rallies as Iran‑US talks lift investor confidence, forint strengthens

Stock trading on the Budapest Stock Exchange posted gains on Thursday after news of possible Iran‑US peace negotiations and the debut of SpaceX on the market. OTP Bank led the rally, rising about 3.9% to 42,490 forints, while Magyar Telekom, Richter and other major equities also posted gains. Mol fell as lower oil prices weighed on energy stocks.

The forint strengthened against the euro, moving from a four‑year high above 357 to around 353 per euro, helped by the dip in oil prices and easing Middle‑East tensions. Analysts linked the currency move to the anticipated Iranian‑American accord and noted that a stronger forint could make foreign holidays cheaper for Hungarian travelers. One analyst warned, “A nagy kérdés egyre inkább az, hogy tud‑e 350 alá is erősödni a forint.”