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BUX loses almost 6% as risk aversion grows on gloomy outlook for global economy

Telco

The Budapest Stock Exchange's main BUX index plunged 5.97% to 15,152.54 on Thursday, falling with indices across Europe on elevated concerns about the outlook for the global economy.

OTP Bank lost 10.86% to HUF 2,995 on turnover of HUF 11.9bn or 70% of the HUF 17.0bn session total. The share was suspended shortly in the afternoon after passing the 10% price change threshold.

Oil and gas company MOL dropped 3.40% to HUF 14,200 on turnover of HUF 2.9bn.

Magyar Telekom dipped 2.92% to HUF 466 on turnover of HUF 972m. Drugmaker Richter, the bourse's defensive blue chip, fell 7.16% to HUF 30,265 on turnover of HUF 823m.

The bourse's mid-cap BUMIX index was down 2.38% at 1,337.72.

Elsewhere in the region, Warsaw's WIG 20 dropped 6.49% and the Prague PX fell 3.56%.

Western Europe's biggest indices were all lower late Thursday. London's FTSE 100 was down 4.33%, Frankfurt's DAX fell 5.01% and the CAC 40 in Paris slid 4.73%.

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