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BUX down, but ahead of Western European peers

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 1.30% at 25,390.23 Monday after losing 4.45% on Friday.

The BUX index looked solid in early trade but struggled as Western European indexes fell steadily during the day. By the middle of morning the BUX index was closely tracking its European peers and Hungarian share prices were dropping but the BUX index still managed to make only moderate losses.

In Western Europe, stocks fell for a second day, extending their losses as investors continued to deal with the fallout from Britainʼs vote to leave the European Union.

OTP was down 2.29% at HUF 6,180 on turnover of HUF 9.53 bln from a HUF 12.02 bln session total.

MOL lost 1.11% to HUF 16,000 on turnover of HUF 1.16 bln. 

Magyar Telekom fell 0.68% to HUF 436 on turnover of HUF 450m. 

Richter was down 0.58% at HUF 5,300 on turnover of HUF 837m.

The bourseʼs mid-cap BUMIX finished 0.17% higher at 1,634.64.

Elsewhere in the region, the WIG-20 in Warsaw lost 2.12% while Pragueʼs PX index was down 3.60%.

Western Europeʼs major indices were down before the end of trading. The FTSE100 in London lost 2.78%, the DAX30 in Frankfurt was down 3.41%, and the CAC40 in Paris was down 3.51%.

International oil prices fell as the per barrel price of Brent decreased by 2.22% to USD 47.95 and the per barrel price of WTI was down 2.41% at USD 46.49.

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