BUX loses 1.68% as Greek debt fears weigh on OTP Bank
The Budapest Stock Exchange's blue-chip BUX index closed Monday trade down 1.68% to 15,509.68 as the Sunday announcement from government officials in Greece that it would miss its 2011 deficit target, thus muddling the country's debt outlook, drove BSE heavyweight OTP Bank to a loss of nearly 6%.
The BUX declined 265.42 points on a light composite exchange turnover of HUF 9.01bn, fluctuating in a 1.85% range between an intra-session low of 15,378.11 at 9:30 a.m. and an intra-session high of 15,662.61 at 4:15 p.m.
BSE blue-chips stood as follows at Monday's closing bell:
OTP Bank lost 5.94% to HUF 3,055 on an exchange-high turnover of HUF 6.15bn;
Oil and gas company MOL declined 0.94% to HUF 14,760 on a turnover of HUF 1.69bn;
Drug company Richter gained 1.34% to HUF 30,350 on a turnover of HUF 528m;
Magyar Telekom advanced 1.02% to HUF 494 on a turnover of HUF 445m.
The BSE Big Four generated 97.8% of the exchange's composite Monday turnover.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.