BUX gains 5.67% on euro-zone debt optimism, positive US service-sector data

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The Budapest Stock Exchange's blue-chip BUX index closed Wednesday trade up 5.67% to 16,457.64 as a statement from European Union Economic Affairs Commissioner Olli Rehn that EU nations are formulating a coordinated plan to prevent euro-zone debt-contagion and the publication of better-than-expected US service-sector data boosted sentiment at bourses throughout Europe.              

The BUX advanced 883.05 points on a composite exchange turnover of HUF 13.56bn, fluctuating in a 4.75% range between an intra-session low of 15,748.87 at 10:00 a.m. and an intra-session high of 16,496.20 shortly before closing bell.

BSE blue-chips stood as follows at Wednesday's closing bell:

Drug company Richter gained 9.39% to HUF 33,800 on a turnover of HUF 2.21bn after announcing that it an US partner Forest Laboratories had conducted successful preliminary testing of a new antipsychotic drug;

Oil and gas company MOL advanced 6.60% to HUF 15,990 on a turnover of HUF 3.09bn;

OTP Bank gained 4.83% to HUF 3,150 on an exchange-high turnover of HUF 6.85bn;

Magyar Telekom advanced 3.21% to HUF 515 on a turnover of HUF 1.12bn.

The BSE Big Four generated 97.9% of the exchange's composite Wednesday turnover.

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