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BUX edges down, falls behind Western European peers

Telco

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.

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