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BUX finishes down following afternoon slump

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 0.67% at 27,009.95 Thursday after losing 0.29% on Wednesday.

The BUX index was hovering around the break-even mark in the first hours of trading but by noon it was down almost 0.50%. The BUX index continued to edge lower in the afternoon as brief periods of upward corrections did little to halt the drop in blue-chips share prices. 

In Western Europe share prices slid for the first time in four days. The European Central Bank kept its interest rates unchanged and President Draghi said he is ready to step up stimulus if the economic outlook worsens, but investors were not fully reassured.

OTP lost 0.68% to HUF 7,250 on turnover of HUF 3.90 bln from a HUF 7.00 bln session total.

MOL was down 0.77% at HUF 16,745 on turnover of HUF 1.28 bln.

Magyar Telekom was down 0.85% at HUF 465 on turnover of HUF 258m.

Richter fell 0.63% to HUF 5,500 on turnover of HUF 1.40 bln.

The bourseʼs mid-cap BUMIX finished 0.75% higher at 1,775.68.

Elsewhere in the region, the WIG-20 in Warsaw was down 0.64% while Pragueʼs PX index gained 0.18%.

Western Europeʼs major indices were mixed before the end of trading. The FTSE100 in London was down 0.61%, the DAX30 in Frankfurt was up by 0.10%, and the CAC40 in Paris lost 0.19%.

International oil prices were lower as the per barrel price of Brent decreased by 2.05% to USD 44.86 and the per barrel price of WTI lost 2.04% to USD 43.28.

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