BUX drops with Europe, ECB boost only temporary


The Budapest Stock Exchangeʼs main BUX index finished down 0.36% at 25,254.65 on Thursday, as measures announced by the European Central Bank lifted share prices only temporarily.

The BUX was in the red for most of the morning, and a statement by National Bank of Hungary deputy governor Márton Nagy that the central bank is likely to cut its key rate this year failed to improve the mood. The BUX rose after the European Central Bank announced interest rate cuts and the broadening of its assets-purchase programme, but the positive mood evaporated soon after, tracking the movements of other big indices in Europe. 

OTP gained 0.26% to HUF 6,648 on turnover of HUF 8.8 bln from a HUF 13.7 bln session total.

MOL was flat at HUF 15,500 on turnover of HUF 2.4 bln.

Magyar Telekom lost 0.91% to HUF 436 on turnover of HUF 0.9 bln.

Richter was down 1.30% at HUF 5,304 on turnover of HUF 1.8 bln.

The bourseʼs mid-cap BUMIX finished 0.39% lower at 1,721.35.

Elsewhere in the region, the WIG-20 in Warsaw was up 0.46% while Pragueʼs PX index gained 1.06%.

Western Europeʼs major indices were down ahead of the end of trading. The FTSE100 in London lost 1.11%, the CAC40 in Paris slipped 0.75% and the DAX30 in Frankfurt fell 1.47%.


Hungary Inflation Rate at 21.5% in May Figures

Hungary Inflation Rate at 21.5% in May

Parl't Approves Amendments to Legislation on Judiciary Parliament

Parl't Approves Amendments to Legislation on Judiciary

Industrial Production Declines in April Manufacturing

Industrial Production Declines in April

Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov... History

Landmark Budapest Dept Store to Reopen After HUF 8 bln Renov...


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.