BUX down on global risk avoidance

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The Budapest Stock Exchange's main BUX index finished down 0.31% at 17,552.46 Wednesday, after rising 1.41% Tuesday. It is down 5.45% from the end of last year, after it rose 2.15% in 2013. With European markets unimpressed by a new investment plan of the EU unveiled Wednesday, and dismal data coming in from the US, the Budapest parquet returned to the slope.

Locally, fresh data was difficult to decipher as to the outlook for inflation. Industrial producer prices fell on the month in October after four months of rises, but increased in annual terms after seven months of falls.

A belated official standard of living statistics did not augur well for household consumption, as it said that, up to the end of last year, income inequality widened "somewhat" in Hungary in the past four years, although it remained "much" under the EU average.

People at risk of poverty or social exclusion made 31.1% of the total population in 2013, 2.4% points less than in the previous year, but up from 29.9% in 2009, Hungary's statistics office said.

EU average was 24.5% last year, Eurostat said early November.

RTL Group said that it is to move all its services from Hungary to Luxembourg, except its main Hungarian channel, RTL Klub.

OTP lost 0.48% to HUF 3,976 on turnover of HUF 612m from a HUF 1.99 bln session total, a quarter of the daily average this year.

MOL gained 0.16% to HUF 12,400 on turnover of HUF 480 mln.

Magyar Telekom rose 0.30% to HUF 339 on turnover of HUF 88 mln.

Richter retreated 1.06% to HUF 3,820 on turnover of HUF 680 mln.

The bourse's mid-cap BUMIX went out 0.28% lower at 1,466.95.

Elsewhere in the region, Warsaw's WIG20 was up 0.40%, while Prague's PX gathered 0.74%. Western Europe's major indices were mixed ahead of their close Wednesday, FTSE-100 in London up 0.10%, DAX30 in Frankfurt up 0.46%, and CAC40 in Paris down 0.26%.

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