BUX opens down 0.9%


The Budapest Stock Exchange's main BUX index opened down 0.9% at 17,304.93 on Thursday.

OTP Bank lost 2.58% to HUF 3,400, oil and gas company MOL fell 0.41% to HUF 16,930, drug maker Richter inched down 0.01% to HUF 35,695, and Magyar Telekom dropped 0.39% to HUF 505.

Analyst Gergely Gabler of Erste Investment told MTI global sentiment is tense before Sunday's EU summit, which also sent US share indices into negative territory on Wednesday, adding that the Hungarian market is also primarily influenced by the international mood.

There is great uncertainty as to whether European leaders will manage to develop a comprehensive solution towards solving the European debt crisis, he said. Several proposals have already been published in the press as well as the denials of these, for example, on the expansion of the euro zone rescue fund, the EFSF, the consolidation of European banks or the extent of the writing off of Greece's sovereign debt, he said.

The BUX closed up 0.43% at 17,461.50 on Wednesday, on turnover of HUF 12.2bn.


Karotin Developing Soil Management System in HUF 545 mln R&D... Land

Karotin Developing Soil Management System in HUF 545 mln R&D...

Parliament Negates Mandatory Membership in MOK Parliament

Parliament Negates Mandatory Membership in MOK

Graphisoft Introduces Archicad Collaborate Construction

Graphisoft Introduces Archicad Collaborate

Meet the Expat CEO of the Year Nominees Awards

Meet the Expat CEO of the Year Nominees


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.