BUX down on weak European sentiment

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 0.19% at 24,284.31 Thursday after gaining 0.11% on Wednesday.

The BUX index tracked Western European indexes closely throughout the day and it remained under the break-even mark for the whole of Thursday.

In the morning share prices were down and a correction around midday was followed by a stronger downward movement in the first hours of the trading. During the last hour of the session the BUX index started to sharply strengthen but it was still down by the end of trading.

KSH reported that consumer prices in Hungary rose 0.9% year-on-year in December, accelerating from a 0.5% increase in November, but the headline figure was in line with the estimate by emerging market analysts in London.

A securities auction during the day reassured investors as the Government Debt Management Agency (ÁKK) sold a combined HUF 60 bln of securities, over the HUF 50 bln plan, with yields dropping.

OTP gained 0.52% to HUF 6,220 on turnover of HUF 8.82 bln from a HUF 14.73 bln session total.

MOL was up 0.62% at HUF 13,880 on turnover of HUF 908 mln.

Magyar Telekom lost 1.23% to HUF 401 on turnover of HUF 678 mln.

Richterʼs share price was down 1.40% at HUF 5,709 on turnover of HUF 4.10 bln.

The bourseʼs mid-cap BUMIX finished 0.39% higher at 1,652.45.

Elsewhere in the region, the WIG-20 in Warsaw was up 0.25%, while Pragueʼs PX index lost 1.76%.

Western Europeʼs major indices were down ahead of the end of trading. The FTSE100 in London lost 0.57%, the DAX30 in Frankfurt was down by 1.40%, and the CAC40 in Paris was down 1.50%.

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