BUX down on negative global sentiment
The Budapest Stock Exchangeʼs main BUX index fell 1.65% at 23,882.92 on Friday after losing 0.19% on Thursday.
After staying mostly in positive territory in the morning, the BUX index fell later on negative sentiment on European as well as US markets as the oil price fell below USD 30 a barrel.
All four blue chips closed down, with OTP Bank dropping 2.06% to HUF 6,092 on turnover of HUF 12.7 bln from a HUF 18.3 bln session total.
Oil and gas company MOL dipped 2.02% to HUF 13,600 on turnover of HUF 1.5 bln.
Drugmaker Richter lost 1.65% to HUF 5,615 on turnover of HUF 3.5 bln.
Magyar Telekom fell 0.25% to HUF 400 on turnover of HUF 0.6 bln.
The bourseʼs mid-cap BUMIX finished 0.14% higher at 1,654.83.
Elsewhere in the region, the WIG-20 in Warsaw was down 2.37%, while Pragueʼs PX index lost 1.95%.
Western Europeʼs major indices were down ahead of the end of trading. The FTSE100 in London lost 2.07%, the DAX30 in Frankfurt was down by 2.88%, and the CAC40 in Paris was down 2.82%.
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.