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BUX down as share prices in Europe again sink

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 1.54% at 22,536.03 on Thursday after gaining 1.40% on Wednesday.

The BUX index closely tracked Western European peers and was below the break-even mark for all of Thursday apart from a few minutes in the morning following the market opening.

All four Hungarian blue-chips fell because of negative sentiment on foreign markets that resurfaced only after a single day of respite on Wednesday. European share prices have decreased for the eighth time in the last nine trading sessions.

Disappointing earnings reports from companies, concerns over the health of the global economy and a renewed fall of international oil prices all prompted European investors to be careful.

OTP lost 1.96% to HUF 5,750 on turnover of HUF 3.97 bln from a HUF 7.43 bln session total.

MOL was down 1.53% at HUF 13,555 on turnover of HUF 857 mln.

Magyar Telekom was also down 0.77% at HUF 387 on turnover of HUF 323 mln.

Richterʼs share price dropped 1.59% to HUF 4,963 on turnover of HUF 2.21 bln.

The bourseʼs mid-cap BUMIX finished 0.22% higher at 1,635.17.

Elsewhere in the region, the WIG-20 in Warsaw was down 0.12% while Pragueʼs PX index fell 1.91%.

Western Europeʼs major indices were down ahead of the end of trading. The FTSE100 in London lost 1.77%, the DAX30 in Frankfurt was down 2.25% and the CAC40 in Paris slipped 3.36%.

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