BUX further down on regional worries
The Budapest Stock Exchange's main BUX index finished down 1.47% at 16,173.61 Tuesday, after falling 1.32% Monday. It id down 2.77% from year-end, after losing 10.40% last year. Euro area market stabilisation did not help the Budapest parquet where worries for deflation and Russia's economic crisis still prevailed.
Hungarian blue-chips are heavily exposed to Russian markets, including MOL which, however, got some tailwind from oil prices with slowing falls on Tuesday.
But Richter fell even though it moved closer to launching its Cariprazine drug in the US, which would reduce its reliance on the Russian market.
Hungarian job data released on Tuesday signaled the first rise in the unemployment rate in two years, adding to gloom after figures on Monday showed Hungarian manufacturing growth has ground almost to a halt in December.
Data deteriorated mainly because of seasonal factors, analysts explained, but investors were apparently not convinced as fresh euro area PMI data pointed to continuing weakness in Hungary's main export markets.
OTP lost 2.66% to HUF 3,660 on turnover of HUF 3.97 bln from a HUF 8.68 bln session total, a tenth above the daily average last year.
MOL gained 0.53% to HUF 11,360 on turnover of HUF 1.09 bln.
Magyar Telekom dipped 1.19% to HUF 333 on turnover of HUF 328m.
Richter retreated 2.68% to HUF 3,420 on turnover of HUF 3.21 bln.
The bourse's mid-cap BUMIX went out 0.09% lower at 1,412.97.
Elsewhere in the region, Warsaw was closed for a holiday, Prague's PX fell 0.29%. Western Europe's major indices were mixed ahead of their close Tuesday, FTSE-100 in London down 0.45%, DAX30 in Frankfurt up 0.40%, and CAC40 in Paris down 0.24%.
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