BUX climbs nearly 2%, outperforming European peers

Telco

The Budapest Stock Exchangeʼs main BUX index finished the session on Monday up 1.89% at 26,623.71, outperforming its peers in the region and in Western Europe on strong showings by OTP Bank, drugmaker Richter and oil and gas company MOL.

OTP Bank gained 3.07% to HUF 7,060 for the day. OTP is scheduled to release its first-quarter earnings early Friday. Turnover of the share was HUF 4.4 bln, or about two-thirds of the HUF 6.5 bln session total.

Oil and gas company MOL gained 1.69% to HUF 16,510 on turnover of HUF 0.6 bln.

Drugmaker Richter advanced 1.47% to HUF 5,470 on turnover of HUF 1.2 bln. The company announced early in the morning positive drug trial results for an active ingredient it developed to treat uterine fibroids in the United States.

Magyar Telekom rose 0.22% to HUF 466 on turnover of HUF 0.3 bln.

The bourseʼs mid-cap BUMIX index edged down 0.21% to 1,776.53. 

Elsewhere in the region, Warsawʼs WIG 20 lost 0.23% and the Prague PX dipped 0.41%.

Western Europeʼs biggest indices were mixed before the end of trade on Monday: Londonʼs FTSE 100 slipped 0.15%, but the DAX in Frankfurt was up 1.20% and the CAC in Paris advanced 0.55%.

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