BUX recovers from early loss to finish day unchanged
The Budapest Stock Exchangeʼs main BUX index was unchanged at 25,831.00 Tuesday after losing 2.60% on Monday.
The BUX index fell in the first hours of trade and was below the break-even mark for most of the day as the share prices of all four blue-chips fell. In the second half of the afternoon, however, OTP and Richter rebounded and the BUX index began to rise to correct its earlier losses. The BUX index finished the day a few fractions of a point higher than Monday.
In Western Europe, stock prices declined further as speculation intensified that Great Britain will vote to leave the European Union and traders wait for the two-day meeting of the Federal Reserve to conclude on Wednesday.
OTP gained 0.99% to HUF 6,550 on turnover of HUF 10.26 bln from a HUF 15.78 bln session total.
MOL was down 1.06% at HUF 15,865 on turnover of HUF 1.89 bln.
Magyar Telekom fell 1.61% to HUF 429 on turnover of HUF 678m.
Richter was up 0.47% at HUF 5,310 on turnover of HUF 2.83 bln.
The bourseʼs mid-cap BUMIX finished 0.86% higher at 1,686.12.
Elsewhere in the region, the WIG-20 in Warsaw lost 0.98% while Pragueʼs PX index was down 1.24%.
Western Europeʼs major indices were down before the end of trading. The FTSE100 in London lost 1.74%, the DAX30 in Frankfurt was down by 1.30%, and the CAC40 in Paris fell 2.06%.
International oil prices fell as the per barrel price of Brent decreased by 1.43% to USD 49.63 and the per barrel price of WTI fell 1.23% to USD 48.28.
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