BUX posts 0.5% counter-trend gain

The Budapest Stock Exchange’s BUX index closed Monday trade up 0.50% to 17,121.96, posting a counter-trend gain as blue-chip peer indices throughout Europe declined on an announcement from Moody’s that it would reconsider the credit ratings of all European Union member states in spite of last week’s euro-zone fiscal pact.

The BUX advanced 85.93 points on a composite exchange turnover of HUF 12.12bn, fluctuating in a 1.79% range between an intra-session low of 16,851.15 shortly after morning bell and an intra-session high of 17,152.93 at 2:00 p.m.

BSE blue-chips stood as follows at Monday’s closing bell:

Drug company Richter gained 2.03% to HUF 34,690 on a turnover of HUF 864m;

Oil and gas company MOL advanced 1.05% to HUF 18,290 on a turnover of HUF 1.51bn;

Magyar Telekom gained 0.96% to HUF 525 on a turnover of HUF 884m;

OTP Bank lost 1.15% to HUF 3,016 on an exchange-high turnover of HUF 8.65bn, or 71.4% of the BSE’s Monday trade.

The BSE Big Four generated 98.25% of the exchange’s composite Monday turnover.