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BUX bounces back on Bernanke speech

Telco

The Budapest Stock Exchange blue-chip BUX index closed Friday trade up 0.4% to 17,894, jumping from a deficit of more than 2% in the final hour of trade following Federal Reserve Chairman Ben Bernanke's statement that the United States central-banking system is prepared to use the tools at its disposal to spur growth in the country.

The BUX skyrocketed nearly more than 480 points following Bernanke's speech at 4:00 p.m., Central European Time, finishing Friday trade 67 points higher on a light composite exchange turnover of HUF 7.15 billion. The BUX fluctuated in a 3.2% range between an intraday low of 17,355 shortly after 4:00 p.m. and a high of 17,909 shortly before closing bell.

The four blue chips stood as follows at Friday's closing bell:

Oil and gas group MOL gained 1.8% to HUF 16,395 on a turnover of HUF 1.56 billion.

OTP Bank advanced 1% to HUF 4,120 on an exchange-high turnover of HUF 5 billion.

Magyar Telekom fell 1.2% to HUF 494 on a turnover of HUF 164 million.

Drugmaker Richter dropped 0.9% to HUF 33,700 on a turnover of HUF 297 million.

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