BUX opens up 0.5%

The Budapest Stock Exchange’s main BUX index opened up 0.46% at 16,530.12 on Monday.

OTP Bank rose 1.40% to HUF 2,900, oil and gas company MOL gained 0.56% to HUF 17,800, drug maker Richter lost 0.57% to HUF 34,305 and Magyar Telekom rose 0.21% to HUF 480.

Analysts interviewed by MTI said share prices could rise on the BSE thanks to positive sentiment on global stock exchanges.

“The week is starting in a very optimistic mood, although there are again euro rescue hopes on the market, which do not usually last,” Balasy of Concorde Securities said.

Accordingly, trading on the BSE should also be influenced by the positive mood, and hopefully buyers will return to Budapest before the end of the year, he added.

The BUX closed down 3.06% at 16,454.24 on Friday, on turnover of HUF 20.3bn.

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