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BUX opens up 1.96%

Telco

The Budapest Stock Exchange's main BUX index opened up 1.96% at 18,385.87 on Monday.

OTP Bank rose 2.86% to HUF 4,320, oil and gas company MOL gained 2.93% to HUF 16,880, drug maker Richter advanced 0.29% to HUF 34,500 and Magyar Telekom opened up 1.43% at HUF 497.

Analysts interviewed by MTI said they expected the positive correction to continue on the BSE on Monday.

The weakening of the Swiss franc could have a positive effect on OTP Bank shares, Gergely Gabler of Erste Investment said. The upward trend of US futures could also help the BUX, he said.

Akos Kuti of Equilor Investment said he expected to see a positive mood in the morning, and then the New York opening to influence afternoon trading in Budapest.

The BUX closed up 1.61% at 18,032.49 on Friday on turnover of HUF 17.78 billion.

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