BUX buckles before end of trading
The Budapest Stock Exchangeʼs main BUX index finished down 1.39% at 23,327.94 on Monday after gaining 1.43% on Friday.
The BUX index was below the break-even point during the entire trading session. In the early morning, share prices fell, then the BUX started paring gains around midday, only to take a hit just before the end of trade and slip to an intraday low.
Major Western European stock market indexes were also low for most of the day, as data showing an unexpected fall in eurozone inflation in February weighed. However, unlike the BUX, the Western European indices gained strength ahead of the end of trading.
OTP lost 1.41% to HUF 5,950 on turnover of HUF 8.81 bln from a HUF 15.40 bln session total.
MOL was down 0.50% at HUF 13,910 on turnover of HUF 2.59 bln.
Magyar Telekom slumped 1.16% to HUF 427 on turnover of HUF 752 mln.
Richter was down 2.42% at HUF 5,074 on turnover of HUF 3.14 bln.
The bourseʼs mid-cap BUMIX finished 0.07% higher at 1,705.65.
Elsewhere in the region, the WIG-20 in Warsaw was down 1.11% while Pragueʼs PX index lost 0.90%.
Western Europeʼs major indices were mixed ahead of the end of trading. The FTSE100 in London gained 0.06%, the CAC40 in Paris was up 0.73% but the DAX30 in Frankfurt fell by 0.36%.
Commodity prices advanced on Monday with the price of Brent growing 2.68% to USD 36.39 per barrel and the price of WTI up 2.14% at USD 33.48.
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.