BUX opens up 1.4%

Telco

The Budapest Stock Exchange's main BUX index opened up 1.36% at 17,661.04 on Monday.

OTP Bank rose 3.34% to HUF 3,555, oil and gas company MOL advanced 0.94% to HUF 17,160, drug maker Richter gained 0.53% to HUF 35,840 and Magyar Telekom climbed 0.19% to HUF 517.

Analysts interviewed by MTI said they expected to see a positive opening on the BSE on Monday as global markets are optimistic on Monday morning.

Although no decision was announced after Sunday's meeting of the heads of state and prime ministers of the euro zone countries, a comprehensive strategy is expected to be finalized on Wednesday.

Zsolt Balásy of Concorde Securities said he expected the Budapest market to be influenced by the positive sentiment.

Attila Csáky of UniCredit Bank said trading could open with rising share prices, which is also reflected by the strengthening of the forint. The solution to the European debt crisis remains in focus, with markets waiting for Wednesday's decision. A number of details became public at the weekend, which makes investors optimistic, he added.

The BUX closed up 1.86% at 17,423.33 on Friday, on turnover of HUF 9.7bn.

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