BUX finishes down following early morning gains
The Budapest Stock Exchangeʼs main BUX index finished down 1.16% at 26,247.31 Tuesday after losing 1.10% on Friday.
The BUX index was up in early trade, but then began losing strength and continued to steadily weaken during the whole day. In the morning it fell below the break-even mark, and finished at an intraday low at the end of trading in the afternoon. In the second half of the day the BUX index was tracking its Western European peers.
In Western Europe stocks mostly fell, reversing earlier gains in the morning, dragged lower by declines in auto-related shares. London and Madrid were the exceptions where the major stock indexes were still showing gains before the end of trade.
OTP lost 1.57% to HUF 6,851 on turnover of HUF 5.14 bln from a HUF 9.23 bln session total.
MOL was down 1.49% at HUF 16,150 on turnover of HUF 1.36 bln.
Magyar Telekom dropped 0.44% to HUF 452 on turnover of HUF 587m.
Richter lost 0.65% to HUF 5,513 on turnover of HUF 2.03 bln.
The bourseʼs mid-cap BUMIX finished 0.16% lower at 1,782.19.
Elsewhere in the region, the WIG-20 in Warsaw was down 0.39% while Pragueʼs PX index lost 1.51%.
Western Europeʼs major indices were mostly down before the end of trading. The FTSE100 in London gained 0.30%, but the DAX30 in Frankfurt was down by 0.56%, and the CAC40 in Paris was down by 0.29%.
International oil prices rose as the per barrel price of Brent increased by 0.71% to USD 49.32 and the per barrel price of WTI gained 0.92% to USD 48.16.
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.