BUX gains on German eurozone rescue fund go-ahead

Telco

The Budapest Stock Exchange's blue-chip BUX index closed Thursday trade up 1.24% to 15,806.19 as the German Bundestag's approval of legislation to expand the euro-zone debt-bailout fund boosted sentiment among BSE investors.

The BUX gained 193.67 points on a composite exchange turnover of HUF 12.86bn, fluctuating in a 2.33% range between an intra-session low of 15,553.43 shortly after 9:30 a.m. and an intra-session high of 15,915.70 shortly before 4:30 p.m.

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

Magyar Telekom gained 4.87% to HUF 495 on a turnover of HUF 3.34bn after the European Commission asked the government of Hungary to scrap its extraordinary tax on companies operating in the country's telecommunications sector;

OTP Bank advanced 2.46% to HUF 3,330 on an exchange-high turnover of HUF 7.3bn;

Oil and gas company MOL gained 0.03% to HUF 14,700 on a turnover of HUF 1.71bn;

Drug company Richter lost 0.92% to HUF 29,525 on a turnover of HUF 333m.

The BSE Big Four generated 98.6% of the exchange's composite Thursday turnover.

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