BUX edges up as Western European peers fall
The Budapest Stock Exchangeʼs main BUX index finished up 0.02% at 26,850.53 Thursday after losing 0.20% on Wednesday.
The BUX index rose in the morning before steadying by noon and moving sideways for the next few hours. The index began losing its earlier gains in the middle of an afternoon as sentiment in Western European markets faltered, and it finished just above the break-even mark. The BUX index was closely tracking Western peers throughout the whole day.
In Western Europe share prices fell mostly because of unfavourable quarterly earnings reports, the Bank of England cutting its growth forecast and somewhat weak macroeconomic data released in the United States.
OTP gained 0.42% to HUF 7,155 on turnover of HUF 3.79 bln from a HUF 7.09 bln session total.
MOL was down 0.55% at HUF 16,400 on turnover of HUF 1.00 bln.
Magyar Telekom dropped 2.57% to HUF 455 on turnover of HUF 607m.
Richter lost 0.25% to HUF 5,570 on turnover of HUF 1.62 bln.
The bourseʼs mid-cap BUMIX finished 0.59% higher at 1,794.54.
Elsewhere in the region, the WIG-20 in Warsaw was down 0.11% while Pragueʼs PX index gained 0.52%.
Western Europeʼs major indices were down before the end of trading. The FTSE100 in London lost 1.05%, the DAX30 in Frankfurt was down by 1.20%, and the CAC40 in Paris was down by 0.53%.
International oil prices fell as the per barrel price of Brent decreased by 1.45% to USD 46.91 and the per barrel price of WTI lost 1.08% to USD 45.73.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.