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BUX edges down in subdued trading

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 0.29% at 27,192.03 Wednesday after gaining 0.70% on Tuesday.

The BUX index rose early morning on Wednesday but by the second hour of trading it was below the break-even mark. It continued to move sideways for the next few hours before stronger selling in the afternoon pushed it lower. A last minute surge in late trading failed to compensate for earlier losses.

In Western Europe stocks were little changed as investors assessed mixed earnings reports, while mining shares advanced helped on by rising commodity prices.

OTP lost 1.08% to HUF 7,300 on turnover of HUF 4.08 bln from a HUF 7.76 bln session total.

MOL was up 0.90% at HUF 16,875 on turnover of HUF 2.30 bln. 

Magyar Telekom was down 0.21% at HUF 469 on turnover of HUF 285m. 

Richter fell 0.45% to HUF 5,535 on turnover of HUF 1.00 bln. 

The bourseʼs mid-cap BUMIX finished 0.57% lower at 1,762.47.

Elsewhere in the region, the WIG-20 in Warsaw was down 0.06% while Pragueʼs PX index gained 0.19%.

Western Europeʼs major indices were mixed before the end of trading. The FTSE100 in London edged down 0.08%, the DAX30 in Frankfurt was up by 0.51%, and the CAC40 in Paris climbed 0.41%.

International oil prices were higher as the per barrel price of Brent increased by 0.55% to USD 44.27 and the per barrel price of WTI gained 0.19% to USD 42.55.

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