Trade in shares of Hungarian oil company MOL suspended

Hungary BudapestBudapest - The Budapest Stock Exchange suspended trading in shares of the Hungarian oil and gas company MOL just after 2 pm on Thursday citing a major forthcoming announcement by the company.

Trading in MOL shares will remain suspended on Friday and on Monday, February 2, the stock exchange announced.

"The issuer informed the bourse on January 29 that is about to make an extraordinary announcement that could greatly affect the share price, so it requested that trading be suspended," the CEO of the exchange, Gyorgy Mohai said in a statement.

The MOL group is Hungary's largest company, a stakeholder in the Nabucco gas pipeline project, and a major player in the Central European oil and gas markets. (dpa)