BUX loses 0.45% on downbeat corporate news, continued US debt stalemate

Telco

The Budapest Stock Exchange's blue-chip index closed Thursday trade down 0.45% to 21,322.50 as gloomy forecasts and disappointing results from major European companies such as BASF and Siemens as well a the continued stalemate in the US Congress regarding the increase of the country's debt ceiling needed to avoid looming default dropped the index to its fifth-consecutive decline.

The BUX lost 96.21 points on a light composite exchange turnover of HUF 7 billion, fluctuating in a 1.22% range between an intra-session high of 21,466.40 shortly at 10:10 a.m. and an intra-session low of 21,203.85 shortly after 12:30 p.m.

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

    

    Oil and gas company MOL lost 1.77% to HUF 19,750 on a turnover of HUF 2.23 billion;

    Drug company Richter declined 0.27% to HUF 36,300 on a turnover of HUF 216 million;

    OTP Bank gained 0.55% to HUF 5,450 on an exchange-high turnover of HUF 3.92 billion;

    Magyar Telekom advanced 0.19% to HUF 537 on a turnover of HUF 339 million.

    

The BSE Big Four generated 95.8% of the exchange's composite Thursday turnover.

Other major central and eastern European blue-chip stock indices finished mixed on Thursday, with Prague's PX-50 losing 0.36% and Warsaw's WIG-20 gaining 0.88%.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.