BUX down, falls behind Western European peers
The Budapest Stock Exchangeʼs main BUX index finished down 0.92% at 26,027.14 Tuesday after losing 0.92% on Monday.
Apart from the first few minutes of trading the BUX index was below the break-even mark during the whole day. Late afternoon about 30 minutes before the end of trading share prices started to recover somewhat but they only managed to moderate losses.
Stock prices in Western European markets rose slightly in a late rally fuelled by gains among commodity producers. Corporate news could set the tone for investors in the coming days as with the earnings report of Alcoa Inc. published on Monday the earnings report season in the United States has unofficially started.
OTP lost 1.08% to HUF 6,880 on turnover of HUF 4.02 bln from a HUF 7.74 bln session total.
MOL was up 0.06% at HUF 16,070 on turnover of HUF 1.47 bln.
Magyar Telekom was down 1.28% at HUF 463 on turnover of HUF 679 mln.
Richter fell 1.69% to HUF 5,348 on turnover of HUF 1.32 bln.
The bourseʼs mid-cap BUMIX finished 0.46% lower at 1,749.26.
Elsewhere in the region, the WIG-20 in Warsaw was down 0.34% while Pragueʼs PX index lost 0.73%.
Western Europeʼs major indices were up before the end of trading. The FTSE100 in London gained 0.74%, the DAX30 in Frankfurt was up by 0.72%, and the CAC40 in Paris climbed 0.73%.
International oil prices were higher as the per barrel price of Brent increased by 2.99% to USD 44.11 and the per barrel price of WTI gained 2.85% to USD 41.51.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.