BUX falls behind Western European peers
The Budapest Stock Exchangeʼs main BUX index finished down 0.42% at 26,128.84 Friday after gaining 0.11% on Thursday.
The BUX index showed mixed movement on Friday, falling after the start of trade, then rebounding within the hour. During the morning and early afternoon stock prices again fell, and while there was a market correction late afternoon the BUX index still finished lower for the day.
In Western Europe share prices fell in the morning until late afternoon when they started gaining strength. Worse-than-forecast payrolls data in the United States emboldened European investors as this pushed back the likelihood of the Federal Reserve increasing rates.
OTP lost 1.30% to HUF 6,850 on turnover of HUF 6.00 bln from a HUF 9.73 bln session total.
MOL was up 0.22% at HUF 16,235 on turnover of HUF 1.76 bln.
Magyar Telekom was down 1.06% at HUF 465 on turnover of HUF 376m.
Richter climbed 0.39% to HUF 5,391 on turnover of HUF 1.52 bln.
The bourseʼs mid-cap BUMIX finished 0.07% lower at 1,780.35.
During the week the BUX index lost 2.76%, while total weekly turnover was HUF 37.82 bln. The BUMIX finished the week 0.46% lower.
For the week OTP was up 5.06% on a turnover of HUF 20.00 bln, MOL lost 2.49% with a turnover of HUF 6.52 bln, Magyar Telekom was down 1.69% with a turnover of HUF 3.04 bln and Richter was down 0.42% with a turnover of HUF 7.72 bln.
Elsewhere in the region, the WIG-20 in Warsaw was up 0.82% while Pragueʼs PX index lost 2.15%.
Western Europeʼs major indices were mixed before the end of trading. The FTSE100 in London gained 0.08%, the DAX30 in Frankfurt was up by 0.25%, and the CAC40 in Paris lost 0.44%.
International oil prices rose as the per barrel price of Brent increased by 0.56% to USD 45.26 and the per barrel price of WTI gained 0.36% to USD 44.48.
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.