ADVERTISEMENT

BUX advances 2.6% on sharp OTP gain

Telco

The Budapest Stock Exchange’s blue-chip BUX index finished Thursday trade up 2.57% to 19,141.28 as OTP Bank’s gain of over 7% on positive global sentiment stemming from the Federal Reserve’s announcement that it would keep rates at "exceptionally low levels" through 2014 propelled the BSE blue-chip index back above the 19,000 plateau.

The BUX gained 480.43 points on a heavy composite exchange turnover of HUF 30.94bn, fluctuating in a 3.61% range between an intra-session low of 18,693.07 at 9:10 a.m. and an intra-session high of 19,369.31 at 4:00 p.m.

BSE blue-chips stood as follows at Thursday’s closing bell:

OTP Bank gained 7.27% to HUF 4,119 on an immense, exchange-high turnover of HUF 26.1bn, or just under 85% of the BSE’s Thursday trade;

Drug company Richter advanced 1.47% to HUF 36,550 on a turnover of HUF 829m;

Oil and gas company MOL gained 0.74% to HUF 19,000 on a turnover of HUF 1.97bn;

Magyar Telekom lost 0.18% to HUF 549 on a turnover of HUF 1.46bn.

The BSE Big Four generated 98.1% of the exchange’s composite Thursday turnover.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.