BUX edges down, falls behind Western European peers
The Budapest Stock Exchangeʼs main BUX index finished down 0.03% at 26,704.47 Wednesday after gaining 1.30% on Tuesday.
The BUX index was above the breakeven-mark during the whole day, mostly moving sideways before a surprise drop in share prices in the last few minutes of trade.
In Western Europe share prices climbed, just like on Tuesday, as investor sentiment strengthened. In London, banks posted the biggest gains among industry groups, followed by energy shares and miners as commodities rallied.
OTP gained 0.33% to HUF 7,046 on turnover of HUF 4.88 bln from a HUF 9.49 bln session total.
MOL was down 0.94% at HUF 16,360 on turnover of HUF 1.94 bln.
Magyar Telekom was unchanged at HUF 456 on turnover of HUF 230m.
Richter climbed 0.47% to HUF 5,589 on turnover of HUF 2.32 bln.
The bourseʼs mid-cap BUMIX finished 0.03% higher at 1,769.82.
Elsewhere in the region, the WIG-20 in Warsaw was up 0.99% while Pragueʼs PX index was up 1.60%.
Western Europeʼs major indices were also up before the end of trading. The FTSE100 in London gained 0.64%, the DAX30 in Frankfurt was up by 1.45%, and the CAC40 in Paris was up by 1.13%.
International oil prices rose as the per barrel price of Brent increased by 1.46% to USD 49.32 and the per barrel price of WTI gained 0.97% to USD 49.09.
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.