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BUX opens up 0.31%

Telco

The Budapest Stock Exchange's main BUX index opened up 0.31% at 22,577.86 on Thursday.

OTP Bank rose 0.28% to HUF 5,325, oil and gas company MOL inched up 0.05% to HUF 20,010, drug maker Richter gained 0.65% to HUF 44,940 and Magyar Telekom advanced 0.44% to HUF 685.

The BUX closed down 0.67% at 22,508.02 on Wednesday, on turnover of HUF 19.5 billion.

The analysts interviewed by MTI said they did not expect to see major changes on the BSE on Thursday.

Roland Kovács of Equilor Investment noted that the US markets reflected a negative mood, however, the forex markets suggest optimism.

CIB Bank's analysts said Thursday's global trading could determine the direction going ahead since another loss-making session would create a bad technical picture indeed. If the macroeconomic data due out on Thursday prove better than expected, that could result in a change in sentiment.

CIB Bank's analysts do not expect a major change from the European Commission's confidence indices, while Germany's unemployment rate could decline further due to seasonal effects. (MTI-ECONEWS)

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