BUX finishes down but ahead of Western European peers
The Budapest Stock Exchangeʼs main BUX index finished down 0.98% at 25,446.07 Thursday after losing 0.70% on Wednesday.
The BUX index was below the break-even mark during the whole day. Right after the start of trading it fell, and it continued to go lower until late in the afternoon when it hovered around a 1% loss for the rest of the trading session.
The BUX was tracking Western European peers on Thursday, which also performed poorly as retailers led a fourth day of declines in a holiday-shortened week. Most markets, including the Hungarian one, are closed tomorrow for Good Friday, which clearly showed in the low weekly turnover abroad and in Hungary.
On Thursday the share price of three blue-chips out of four decreased on the Hungarian stock market with MOL hit the hardest. Although Fitch Ratings improved the credit outlook of MOL from negative to stable it left its credit rating unchanged at "BBB-". MOL was also hampered by falling international oil prices.
OTP lost 1.07% to HUF 6,668 on turnover of HUF 2.66 bln from a HUF 6.98 bln session total.
MOL was down 2.13% at HUF 15,850 on turnover of HUF 2.24 bln.
Magyar Telekom lost 0.23% to HUF 439 on turnover of HUF 800m.
Richterʼs share price was unchanged at HUF 5,300 on turnover of HUF 1.14 bln.
The bourseʼs mid-cap BUMIX finished 0.33% higher at 1,734.49.
During the week the BUX index lost 1.90%, while total weekly turnover was HUF 37.90 bln. The BUMIX finished the week 0.90% higher.
For the week OTP was down 1.33% on a turnover of HUF 18.21 bln, MOL lost 3.41% with a turnover of HUF 8.88 bln, Magyar Telekom edged down 0.23% with a turnover of HUF 3.98 bln and Richter was down 1.98% with a turnover of HUF 6.21 bln.
Elsewhere in the region, the WIG-20 in Warsaw edged up 0.03% while Pragueʼs PX index lost 0.17%.
Western Europeʼs major indices were down before the end of trading according to preliminary data. The FTSE100 in London lost 1.47%, the DAX30 in Frankfurt was down by 1.69%, and the CAC40 in Paris lost 2.12%.
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.