BUX further up on OTP
The Budapest Stock Exchange's main BUX index finished up 0.26% at 17,884.71 Tuesday, after rising 1.24% Monday. It is down 3.66% from the end of last year, after it rose 2.15% in 2013. It is up 0.59% on the month, but down 3.88% on the quarter.
After a four-day losing streak to a six-week low, the Budapest parquet adjusted upwards for a second day, although gloom again engulfed the market for most of the day. Worries for company profits grew after fresh statistics showed producer prices rose faster in August on a monthly basis, but the fall on annual terms accelerated.
But OTP still propped up the BUX after the bank reportedly made a non-binding offer of EUR 300 mln for state-owned Nova Kreditna Banka Maribor, Slovenia's second-largest lender by assets. This convinced investors that OTP is liquid enough in spite of the burden of the mandatory debtor relief.
OTP rose 2.83% to HUF 4,180 on turnover of HUF 5.71 bln from a HUF 8.16 bln session total, a hair less than daily average this year.
MOL lost 1.15% to HUF 12,050 on turnover of HUF 685 mln.
Magyar Telekom added 0.84% to HUF 362 on turnover of HUF 294 mln.
Richter retreated 1.51% to HUF 3,850 on turnover of HUF 1.40 bln.
The bourse's mid-cap BUMIX went out 0.30% lower at 1,491.37.
Elsewhere in the region, Warsaw's WIG20 was up 0.80%, while Prague's PX garnered 0.52%.
Western Europe's major indices were mixed ahead of their close Tuesday, FTSE-100 in London down 0.24%, Frankfurt's DAX30 up 0.66%, and CAC40 in Paris up 1.60%.
Watchdog Fines UniCredit Bank Hungary for Regulatory Shortfa...
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
