BUX follows European peers


The Budapest Stock Exchange's main BUX index finished up 0.09% at 17,621.96 Wednesday, after losing 0.80% Tuesday. It is down 5.07% from the end of last year, after it rose 2.15% in 2013. The Budapest parquet tentatively followed euro area peers upwards, and pared gains when most Western markets turned south late afternoon.

Confirmation from the National Bank of Hungary (MNB) on Wednesday of its intention to hang on to its current loose monetary policy for an extended period of time supported the Budapest parquet, although analysts views still differ on what it may involve on a wider horizon: a further base rate cut next year, or only a postponement of the first tightening from next year to 2016 as deflation persists.

Hungarian private think-tank Fiscal Responsibility Institute said on Wednesday that with GDP growth set to slow next year, this and recent modifications to the 2015 budget bill could raise Hungary's public deficit to 2.7%, or even above 3% of GDP next year if other risks materialise, against the government's plan of 2.4%.

Falling fuel prices still weighed on MOL, while further own-share purchases to the tune of more than HUF 1.5 bln supported Richter.

OTP gained 1.33% to HUF 4,100 on turnover of HUF 4.15 bln from a HUF 7.01 bln session total, a tenth short of the daily average this year. MOL lost 1.32% to HUF 11,925 on turnover of HUF 754 mln. Magyar Telekom won 0.29% to HUF 351 on turnover of HUF 275 mln. Richter advanced 0.13% to HUF 3,855 on turnover of HUF 1.78 bln. The bourse's mid-cap BUMIX went out 0.62% lower at 1,453.28.

Elsewhere in the region, Warsaw's WIG20 was down 1.11%, while Prague's PX rose 0.26%. Western Europe's major indices were mixed ahead of their close Wednesday, FTSE-100 in London down 0.21%, DAX30 in Frankfurt up 0.24%, and CAC40 in Paris down 0.67%.

MNB Issues Instructions to Prevent Online Personal Loan Frau... Banking

MNB Issues Instructions to Prevent Online Personal Loan Frau...

UN SDGs Unachievable Without 'East-West Cooperation' - Szijj... World

UN SDGs Unachievable Without 'East-West Cooperation' - Szijj...

Competition Office Launches Probe of Aldi Retail

Competition Office Launches Probe of Aldi

Budapest 14th in Sports Cities Ranking City

Budapest 14th in Sports Cities Ranking


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.