BUX finishes lower, faltering before end of trade

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 0.55% at 26,840.75 Thursday after gaining 0.48% on Wednesday.

The BUX index was down after open and showed mixed movement in the morning, only briefly rising above the break-even mark. For most of the afternoon the BUX index moved sideways, hovering around the break-even mark, but an hour before the end of trade it began falling. 

In Western Europe stocks declined for most of the morning after the Bank of Japan unexpectedly refrained from increasing stimulus measures, upsetting investors. By the afternoon however investor sentiment was recovering and major stock indexes corrected upwards, some nearing the end of trading with an intraday gain.

OTP was up 0.04% to HUF 7,269 on turnover of HUF 4.34 bln from a HUF 7.59 bln session total.

MOL was down 0.54% at HUF 16,440 on turnover of HUF 914m.

Magyar Telekom was up 0.21% at HUF 471 on turnover of HUF 243m.

Richter dropped 1.90% to HUF 5,415 on turnover of HUF 2.02 bln.

The bourseʼs mid-cap BUMIX finished 0.85% higher at 1,790.19.

Elsewhere in the region, the WIG-20 in Warsaw was up 0.29% while Pragueʼs PX index lost 0.51%.

Western Europeʼs major indices were mixed before the end of trading. The FTSE100 in London was down 0.03%, the DAX30 in Frankfurt was up by 0.20%, and the CAC40 in Paris lost 0.23%.

International oil prices were higher as the per barrel price of Brent increased by 0.83% to USD 47.32 and the per barrel price of WTI gained 0.51% to USD 45.56.

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