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BUX opens marginally lower

Telco

The Budapest Stock Exchange’s main BUX index opened down 0.01% at 16,977.20 on Thursday.

OTP Bank rose 0.93% to HUF 3,028, oil and gas company MOL opened unchanged at HUF 18,100, drug maker Richter lost 0.80% to HUF 34,610 and Magyar Telekom fell 0.60% to HUF 497.

Analysts interviewed by MTI said trading could be uncertain on the BSE on Thursday. Trader Balazs Sore of Buda-Cash Brokerage noted that US markets would stay close on Thursday due to the Thanksgiving Day holiday. European stock exchanges were influenced on Wednesday by Germany’s disastrous government bond auctions. On Thursday, Germany’s IFO index, expected to come out weaker, as well as German and UK GDP data could influence trading on the BSE, the analyst added.

The BUX closed up 0.34% at 16,979.37 on Wednesday, on turnover of HUF 11.61bn.

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