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BUX posts 1.9% counter-trend gain

Telco

The Budapest Stock Exchange’s BUX index closed Friday trade up 1.88%, outperforming its European blue-chip peer indices, most of which sustained losses on news that Standard and Poor’s may be preparing to downgrade several euro-zone countries.

The BUX advanced 319.72 points on a composite exchange turnover of HUF 20.92bn, fluctuating in a 2.13% range between an intra-session low of 16,988.76 shortly after opening bell and an intra-session high at the index’s closing mark of 17,350.24.

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

OTP Bank gained 2.80% to HUF 3,379 on an exchange-high turnover of HUF 16.86bn, or just over 80% of the BSE’s total Friday trade;

Oil and gas company MOL advanced 2.23% to HUF 17,405 on a turnover of HUF 2.21bn;

Magyar Telekom gained 1.36% to HUF 523 on a turnover of HUF 918m;

Drug company Richter advanced 1.10% to HUF 35,900 on a turnover of HUF 665m.

The BSE Big Four generated 98.7% of the exchange’s composite Friday turnover.

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