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BUX opens up 0.5%

Telco

The Budapest Stock Exchange's main BUX index opened up 0.53% at 18,123.01 on Friday.

OTP Bank gained 0.96% to HUF 3,685, oil and gas company MOL rose 0.14% to HUF 17,830, drug maker Richter advanced 0.56% to HUF 35,850 and Magyar Telekom climbed 0.57% to HUF 528.

Analysts interviewed by MTI said the positive global sentiment - as European shares are set to continue their debt deal-driven rally - could have a beneficial impact on trading in Budapest.

Zoltán Varga of QUAESTOR said MOL and OTP could remain the driving forces in the coming days, with a barrier that can stop the rise of the share price between HUF 18,200-18,300 for the oil share and at HUF 3,750 for the bank paper. He said it could also be worthwhile to watch Magyar Telekom, which could start climbing if it breaks through HUF 530.

The BUX closed up 3.82% at 18,027.95 on Thursday, on turnover of HUF 20.7bn.

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