BUX outperforms Western European peers

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 0.81% at 27,208.42 Thursday after gaining 1.77% on Wednesday.

The BUX index fell in the first few minutes of trade before recovering and gradually gaining strength during the morning. It neared its intra-day high shortly after midday and moved sideways for most of the afternoon. In the last two hours of trade there was a brief downwards market correction, but the BUX index rebounded from this.

In Western Europe share prices were little changed after Mario Draghi from the European Central Bank kept broadly similar inflation forecasts for the euro area and kept the ECBʼs base rate unchanged. Energy producers fell after OPEC members failed to agree on a new output ceiling.

OTP gained 0.61% to HUF 6,900 on turnover of HUF 1.51 bln from a HUF 5.31 bln session total.

MOL was up 1.75% at HUF 16,305 on turnover of HUF 1.71 bln. 

Magyar Telekom climbed 0.44% to HUF 459 on turnover of HUF 384m. 

Richter was up 0.35% at HUF 5,785 on turnover of HUF 1.63 bln.

The bourseʼs mid-cap BUMIX finished 0.31% lower at 1,766.86.

Elsewhere in the region, the WIG-20 in Warsaw gained 0.16% while Pragueʼs PX index was up 0.02%.

Western Europeʼs major indices were hovering around the break-even mark before the end of trading. The FTSE100 in London gained 0.03%, the DAX30 in Frankfurt was up by 0.08%, and the CAC40 in Paris was down by 0.13%.

International oil prices fell as the per barrel price of Brent decreased by 0.34% to USD 49.55 and the per barrel price of WTI lost 0.53% to USD 48.75.

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