BUX down as investors wait for Fed decision

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 0.32% at 21,040.86 Thursday after losing 0.09% on Wednesday.

The BUX index showed some signs of strengthening in the first hour of trading but then share prices began to fall. The index edged lower throughout the day to hit an intraday low two hours before the end of trading before rebounding somewhat, but still finishing lower.

Turnover was below the daily average this year and investor sentiment was subdued. Most traders are waiting for the Federal Reserve decision on Thursday evening whether to raise American interest rates for the first time since 2006 or postpone a tightening cycle.

OTP gained 1.12% to HUF 5,440 on turnover of HUF 3.15 bln from a HUF 7.66 bln session total.

MOL was down 1.15% at HUF 12,850 on turnover of HUF 3.33 bln.

Magyar Telekom lost 1.01% to HUF 392 on turnover of HUF 308m.

Richterʼs share price decreased 1.22% to HUF 4,307 on turnover of HUF 1.22 bln.

The bourseʼs mid-cap BUMIX finished 0.29% higher at 1,608.65.

Elsewhere in the region, the WIG-20 in Warsaw was up 0.10%, while Pragueʼs PX rose 0.72%.

Western Europeʼs major indices were little changed ahead of the end of trading. The FTSE100 in London lost 0.55%, the DAX30 in Frankfurt edged down by 0.03%, and the CAC40 in Paris was up 0.18%.

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