The National Bank of Hungary (MNB) left its main policy rate unchanged on Tuesday as widely expected, but a repetition of its January guidance strengthened expectations that it might start cutting in March.

Before close the testimony of Fed chair Janet Yellen showing the Fed was still not in a hurry to start rate hikes helped as well because further patience of the Fed also increases the chance of a nearside easing by the MNB.

MOL soared on bright outlook the company’s board drew up after posting less than expected losses from last year, while forecasters expect a jump in Magyar Telekom’s profits when it publishes results on Wednesday.

A decision of MNB on Tuesday to revoke the licence of the seventh largest brokerage on the Budapest prompt share market in terms of turnover, Buda- Cash Brokerhaz, for suspected wrongdoings over more than a decade with expected damages of more than HUF 100 bln to investors apparently did not spoil market mood.

OTP won 1.62% to HUF 4,400 on turnover of HUF 6.30 bln from a HUF 12.46 bln session total, one-and-a-half-times the daily average this year.

MOL gained 3.52% to HUF 12,200 on turnover of HUF 4.07 bln.

Magyar Telekom rose 1.60% to HUF 381 on turnover of HUF 292 mln.

Richter advanced 0.13% to HUF 3,990 on turnover of HUF 1.66 bln.

The bourse’s mid-cap BUMIX went out 1.45% lower at 1,501.72.

Elsewhere in the region, the WIG 20 in Warsaw was down 0.01%, while Prague’s PX grew 0.60%. Western Europe’s major indices were all up ahead of their close Tuesday, FTSE-100 in London 0.65%, DAX30 in Frankfurt 0.82%, and CAC40 in Paris 0.66%.