BUX recovers as mood lifts on Western European markets
The Budapest Stock Exchangeʼs main BUX index was up 3.30% at 26,226.84 Tuesday after losing 1.30% on Monday.
The BUX index rose steadily throughout the whole day as the share prices of all four Hungarian blue-chips increased. In the evening the BUX finished near its intra-day high boosted by recovering investor sentiment on Western European markets.
European stocks rebounded after tumbling in the last two trading sessions as investors bet on policy makers taking steps to limit economic damage from Brexit.
OTP was up 3.56% at HUF 6,400 on turnover of HUF 9.36 bln from a HUF 12.26 bln session total.
MOL was up 4.06% at HUF 16,650 on turnover of HUF 1.37 bln.
Magyar Telekom rose 1.83% to HUF 444 on turnover of HUF 362m.
Richter gained 3.02% to HUF 5,460 on turnover of HUF 1.06 bln.
The bourseʼs mid-cap BUMIX finished 0.43% higher at 1,641.66.
Elsewhere in the region, the WIG-20 in Warsaw gained 1.13% while Pragueʼs PX index was up 2.07%.
Western Europeʼs major indices were up before the end of trading. The FTSE100 in London gained 2.86%, the DAX30 in Frankfurt was up by 2.22%, and the CAC40 in Paris climbed 2.86%.
International oil prices rose as the per barrel price of Brent increased by 1.09% to USD 48.29 and the per barrel price of WTI was up 1.19% at USD 46.88.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.