BUX down, falls behind Western European peers

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The Budapest Stock Exchangeʼs main BUX index finished down 2.60% at 25,830.59 Monday after losing 1.69% on Friday.

The BUX index was below the break-even mark all Monday. It steadily fell during the day as the share prices of all four-blue chips sank. The BUX index was down because of weak investor sentiment in Europe, but overall it performed worse than its Western European peers.

In Western Europe share prices slid to a two-month low, tracking a global market slump, as investor anxiety deepened about Great Britain leaving the European Union. Optimism among investors that Great Britain will choose to remain has given way to fear since the middle of last week as polls indicated the vote is too close to call.

OTP lost 3.34% to HUF 6,486 on turnover of HUF 5.31 bln from a HUF 10.61bn session total.

MOL was down 2.40% at HUF 16,035 on turnover of HUF 1.60 bln. 

Magyar Telekom fell 1.36% to HUF 436 on turnover of HUF 447 mln. 

Richter was down 2.49% at HUF 5,285 on turnover of HUF 3.05 bln.

The bourseʼs mid-cap BUMIX finished 1.07% lower at 1,671.79.

Elsewhere in the region, the WIG-20 in Warsaw lost 0.11pc while Pragueʼs PX index was down 2.58%.

Western Europeʼs major indices were down before the end of trading. The FTSE100 in London lost 0.88%, the DAX30 in Frankfurt was down by 1.43%, and the CAC40 in Paris fell 1.52%.

International oil prices rose as the per barrel price of Brent increased by 0.08% to USD 50.58 and the per barrel price of WTI also gained 0.08% to USD 49.11.

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