ADVERTISEMENT

BUX hovers near no change

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 0.24% at 18,630.84 Tuesday after garnering 0.05% Monday. It is up 12.00% from year-end, after losing 10.40% last year. The Budapest parquet hovered slightly up and down the no change line for the whole day to a more marked downtick in final trades, with the previous dayʼs winners mostly losing some and losers mostly gaining some as waiting for the Wednesday outcome of the Fedʼs policy meeting kept investors cautious.

Slowing construction volumes growth data from January on Monday combined with falling capital account surplus figures due to less net transfers from the EU also in January, published be the National Bank of Hungary (MNB) on Tuesday, confirmed expectations for slower GDP growth this year.

Following last weekʼs disciplinary actions of the EU concerning the advertisement tax in Hungary and fuel supply to the planned Paks (central Hungary) nuclear plant upgrade, Romaniaʼs prime minister on Tuesday urged "discussion at European level" on Hungaryʼs relations with Russia as "it is not only a matter of concern for Romania." Victor Ponta also said that Romania had to beef up its military to counter a threat from Russia.

Citigroup has lowered its ex-dividend target price for Magyar Telekom to HUF 431 from HUF 456, and following the recent share price increase it has cut its recommendation to neutral from buy.

After falling on Monday, MOL gained a little as its dividend plan seemed to be in line with the previous three yearsʼ average despite negative EPS including special items published from 2014. EPS without special items fell 82% from 2013.

OTP eased 0.32% to HUF 4,680 on turnover of HUF 5.19 bln from a HUF 7.25 bln session total, 15% short of the daily average this year.

MOL rose 0.08% to HUF 11,920 on turnover of HUF 901 mln.

Magyar Telekom lost 0.77% to HUF 387 on turnover of HUF 488 mln.

Richter slid 0.13% to HUF 3,840 on turnover of HUF 390 mln.

The bourseʼs mid-cap BUMIX went out 0.26% lower at 1,510.89.

Elsewhere in the region, WIG 20 in Warsaw was up 0.84%, while Pragueʼs PX fell 0.37%. Western Europeʼs major indices were mixed ahead of their close Tuesday with FTSE-100 in London up 0.50%, DAX30 in Frankfurt down 1.56%, and CAC40 in Paris down 0.67%


ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.