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BUX down 1.57% at noon on global recession fears

Telco

The Budapest Stock Exchange's blue-chip BUX index was down 1.57% at noon on Monday as fears of global recession stemming primarily from the Friday publication of weak US jobs data continued to weigh on sentiment at bourses throughout Europe.

The BUX commenced afternoon trade 287.06 points lower at 17,945.97 on a composite exchange turnover of HUF 3.28 billion.

BSE blue-chips stood as follows at Monday noon:

OTP Bank was down 2.27% at HUF 3,910 on an exchange-high turnover of HUF 2.3 billion;

Oil and gas company MOL was down 2.22% at HUF 16,720 on a turnover of HUF 394 million;

Magyar Telekom was down 0.97% at HUF 509 on a turnover of HUF 212 million;

Drug company Richter was down 0.37% at HUF 35,400 on a turnover of HUF 298 million.

 Major European blue-chip stock indices were in negative territory at midday, with London's FTSE-100 down 2.11% and Frankfurt's Xetra DAX down 3.00%.

The BUX's central and eastern European high-cap peer indices were also lower at noon, with Prague's PX-50 down 3.65% and Warsaw's WIG-20 down 2.24%.

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