BUX down, but outperforms Western European markets

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 0.76% at 26,210.41 on Tuesday after gaining 0.38% on Monday.

The BUX index was below the break-even mark during the whole day. The BUX index opened lower in the morning and moved sideways after that, holding steady at around a 0.70% loss.

Declines in carmakers and commodity shares dragged Western European stocks toward their lowest level in more than a month. Western European indexes dropped more steeply than the BUX index after an unexpected drop in German factory orders signalled weakness in economic growth and low investor confidence.

OTP lost 0.66% to HUF 6,900 on turnover of HUF 4.45 bln from a HUF 8.56 bln session total.

MOL was down 0.92% at HUF 16,240 on turnover of HUF 2.10 bln.

Magyar Telekom dipped 0.22% to HUF 458 on turnover of HUF 520m.

Richter dropped 0.96% to HUF 5,446 on turnover of HUF 1.32 bln. 

The bourseʼs mid-cap BUMIX finished 0.38% lower at 1,749.11.

Elsewhere in the region, the WIG-20 in Warsaw was down 2.63% while Pragueʼs PX index lost 0.82%.

Western Europeʼs major indices were down ahead of the end of trading. The FTSE100 in London lost 1.03%, the CAC40 in Paris 2.09% and the DAX30 in Frankfurt 2.57%.

International oil prices were slightly lower as the per barrel price of Brent decreased by 0.05% to USD 37.67 and the per barrel price of WTI lost 0.08% to USD 35.67.

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