BUX kicks off high Q3 flash-report season with sharp advance


Gains from all BSE Big Four issuers, Mol, Magyar Telekom, OTP and Richter, lifted the Budapest Stock Exchange's (BÉT) blue-chip BUX index to a hale Thursday advance of 506.25 points to 23,572.78.

The BUX posted its fifth-consecutive gain, rising 2.19% on an immense composite exchange turnover of Ft 44.04 billion (€169 million), fluctuating in a 423.30-point range between an intra-session low of 23,149.48 at 9:15 a.m. and an intra-session high at the index's closing mark of 23,572.78. The mid-cap BUMIX index posted its second-consecutive slight decline on Thursday, losing 3.64 points, or 0.16%, to 2,309.45.

The BSE Big Four, which account for 87.89% of the BUX index's point value, stood as follows at Thursday's closing bell: Oil and natural gas company Mol gained 4.59% to Ft 21,755 on a mammoth, exchange-high turnover of Ft 21.46 billion. Magyar Telekom advanced 3.12% to Ft 990 on a turnover of Ft 1.87 billion after the company's Thursday-morning flash report showed a consensus-beating Q3 net profit of Ft 23.37 billion and a record-high Q3 EBITDA of Ft 67.9 billion. OTP Bank gained 1.32% to Ft 7,660 on a turnover of Ft 12.42 billion. Pharmaceutical company Gedeon Richter advanced 0.91% to Ft 44,200 on a turnover of Ft 3.69 billion.

The BSE Big Four generated 89.55% of the exchange's composite Thursday turnover. Thursday's leading BUX gainer was IT company Synergon, which advanced 7.14%. Thursday's leading BUX decliner was Egis, which lost 3.74% on a brisk turnover of Ft 2.25 billion after the drug company reported a Q4 consolidated after-tax profit of Ft 2.48 billion in its Thursday-morning earnings bulletin. It is a year-on-year increase of 11%, though slightly less than the Ft 2.79 billion estimated in a analyst poll. Of 12 BUX-listed issuers, nine gained on Thursday, while only Egis and the South Hungarian Power Distribution Company (Démász) lost.

Thursday's leading BUMIX gainer was cross-listed Synergon. Thursday's leading BUMIX decliner was Graphisoft, which lost 4.01% as investors expressed their disappointment with the architectural-software company's Thursday-morning flash report showing an unconsolidated net profit of €2.88 million in the first three quarters of 2006, compared to losses of €129,000 over the same period last year. Of 16 BUMIX-listed issuers, which include six companies cross-listed on the BUX index, eight gained on Thursday, while six lost and two ended at the break-even mark.

Other major central and eastern European blue-chip stock indices recorded more moderate advances on Thursday, with Prague's PX-50 gaining 0.44% to 1,561 and Warsaw's WIG-20 rising 0.12% to 3,240.16. (Mti-Eco)

Gov't to Present EU-wide Support Scheme for EV Purchases in ... Analysis

Gov't to Present EU-wide Support Scheme for EV Purchases in ...

Gov't to Call HUF 75 bln Tender to Support Innovation by SME... Government

Gov't to Call HUF 75 bln Tender to Support Innovation by SME...

Óbuda Uni Planning Technology and Innovation Park Innovation

Óbuda Uni Planning Technology and Innovation Park

White Raven Skybar, Laurent-Perrier Champagnes Enter Special... Drinks

White Raven Skybar, Laurent-Perrier Champagnes Enter Special...


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.