BUX falls but outperforms

Telco

The Budapest Stock Exchange's main BUX index finished down 0.99% at 17,503.48 Wednesday, after sliding 0.36% Tuesday. It is down 5.71% from the end of last year, after it rose 2.15% in 2013. Following the global trend, the Budapest parquet also fell Wednesday, but at less than half the pace of its leading European peers.

With the Hungarian government still mum on its specific intentions after this year's series of elections wound up last Sunday with the voting for local councils, investors have apparently given the government the benefit of the doubt ahead of its decision on next year's budget bill. The decision is expected at the week-end, probably on Saturday, the Minister of Human Resources told the press Wednesday. Magyar Telekom could even rake up a rise on bargain hunting, after it fell to a close to four-month low the previous day on news that France's Iliad does not want, after all, to buy the US business of Deutsche Telekom, the parent of Magyar Telekom.

OTP fell 2.97% to HUF 3,920 on turnover of HUF 6.39 bln from a HUF 9.17 bln session total, a tenth above the daily average this year. MOL lost 1.22% to HUF 11,765 on turnover of HUF 1.22 bln. Magyar Telekom rose 2.90% to HUF 355 on turnover of HUF 735 mln. Richter retreated 0.18% to HUF 3,970 on turnover of HUF 741 mln. The bourse's mid-cap BUMIX went out 0.60% lower at 1,484.98.

Elsewhere in the region, Warsaw's WIG20 was down 0.87%, while Prague's PX sank 1.69%. Western Europe's major indices were all down ahead of their close Wednesday, FTSE-100 in London 2.31%, DAX30 in Frankfurt 2.24%, and CAC40 in Paris 2.72%.

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