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BUX outperforms Western European peers

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 0.71% at 24,911.31 on Monday after gaining 1.54% on Friday.

The BUX index showed mixed movement in the morning, mostly keeping above the break-even mark. After midday the index rose steadily, keeping below its intraday high, but outperforming most Western European indexes.

Hungaryʼs industrial output in January edged down 0.2% year-on-year according to unadjusted figures published on Monday, but analysts termed the halt in growth "temporary". This news was balanced by the National Economy Ministry reporting that the countryʼs general government balance had a cashflow-based surplus of HUF 14.8 bln at the end of February.

An almost 3% rise in the global price of Brent and WTI was reflected in the above the average turnover of MOLʼs shares on the Budapest Stock Exchange. The per barrel price of Brent rose to USD 39.86 and the WTI per barrel price was up at USD 36.99.

OTP gained 0.38% to HUF 6,384 on turnover of HUF 8.36 bln from a HUF 15.68 bln session total.

MOL was up 0.75% at HUF 15,400 on turnover of HUF 4.22 bln.

Magyar Telekom climbed 0.68% to HUF 447 on turnover of HUF 914 mln.

Richter was up 1.29% at HUF 5,277 on turnover of HUF 2.07 bln. 

The bourseʼs mid-cap BUMIX finished 0.34% lower at 1,724.64.

Elsewhere in the region, the WIG-20 in Warsaw was up 1.17% while Pragueʼs PX index lost 0.19%.

Western Europeʼs major indices were down ahead of the end of trading. The FTSE100 in London lost 0.29%, the CAC40 in Paris was down 0.40% and the DAX30 in Frankfurt fell 0.51%.

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