BUX down on global worries, local PMI

The Budapest Stock Exchange's main BUX index finished at 16,414.80 Monday, down 1.32% from last Tuesday, the last trading day before the extended New Year holidays. It fell 10.40% last year, after rising 2.15% in 2013.

Global worries for Greece, the Russia-Ukraine crisis, slow economic growth and rising deflation risks knocked the Budapest parquet further down along with Western and emerging markets.

The latest PMI survey out on Monday showing Hungarian manufacturing growth ground almost to a halt in December, leading a general slowdown in central European factory output, confirmed that falling energy costs failed to offset the drag from the euro zone's malaise and the crisis in Russia.

Loser of the day was MOL on oil prices that sank again.

Lingering expectations that bleak outlook might force the National Bank of Hungary (MNB) to renew easing are enough to contribute to the weakening of the Hungarian currency, but are not strong enough to help the share market.

Worries are also high because of the Hungarian government's inclination to portray global trends as "external attacks" against Hungary, which may result in further unorthodox measures, analysts add.

OTP lost 1.34% to HUF 3,760 on turnover of HUF 3.22 bln from a HUF 5.82 bln session total, three-quarters of the daily average last year.

MOL dropped 2.12 % to HUF 11,300 on turnover of HUF 1.37 bln.

Magyar Telekom dipped 0.30% to HUF 337 on turnover of HUF 282 mln.

Richter retreated 0.59% to HUF 3,514 on turnover of HUF 769 mln.

The bourse's mid-cap BUMIX went out 2.15% lower at 1,414.27.

Elsewhere in the region, Warsaw's WIG20 was down 1.62%, while Prague's PX fell 2.03%. Western Europe's major indices were all down ahead of their close Monday, FTSE-100 in London 1.86%, DAX30 in Frankfurt 2.60%, and CAC40 in Paris 3.01%.