BUX rallies as eurozone rescue fund hopes lift shares

The Budapest Stock Exchange’s main BUX index rose 1.97% to 17,766.22, advancing along with other European indices as hopes for a decision by EU leaders on Wednesday to recapitalize European banks and solve the debt crisis lifted financial-sector shares.

OTP Bank advanced 3.31% to HUF 3,554 on turnover of HUF 8.74bn, oil and gas company MOL gained 1.76% to HUF 17,300 on turnover of HUF 2.58bn, drug maker Richter lost 0.28% to HUF 35,550 on turnover of HUF 0.49bn and Magyar Telekom rose 2.33% to HUF 528 on turnover of HUF 0.83bn.

Share turnover amounted to HUF 12.9bn for the session.

The bourse’s mid-cap BUMIX index climbed 1.74% to 1,405.24.

Major Western European share indices were all up, with London’s FTSE rising 0.92%, Frankfurt’s DAX advancing 1.45% and the CAC-40 in Paris gaining 1.54%.

Elsewhere in the CEE region, Warsaw’s WIG-20 climbed 2.74% and Prague’s PX-50 gained 0.97%.

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