BUX opens down 1.77%
The Budapest Stock Exchange's main BUX index opened down 1.77% at 16,482.61 on Monday.
OTP Bank lost 2.94% to HUF 3,630, oil and gas company MOL fell 2.81% to HUF 14,680, drug maker Richter inched down 0.02% to HUF 32,495 and Magyar Telekom dropped 1.22% to HUF 486.
Analysts interviewed by MTI said they expected to see a negative mood on the BSE on Monday.
Zsolt Balásy of Concorde Securities said he feared that the Budapest bourse could be one of the weakest among falling markets. We can really start worrying now that developed markets, continuously rising last week, are beginning this week under selling pressure, he said. He added that we missed out on last week's rebound, which could even provide some protection, however, he does not think that is the case as the forint is weakening frighteningly Monday morning.
The BUX closed down 0.11% at 16,779.45 on Friday, on turnover of HUF 14.3 billion.
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.