BUX rides OTP rally, record-breaking Richter

Telco

The Budapest Stock Exchangeʼs main BUX index finished the session Wednesday up 1.85% at 23,279.89 as OTP Bank continued to rally and drugmaker Richter reached a historical high.

OTP Bank gained 2.52% to HUF 6,027, continuing to climb after rising almost 5% on Tuesday, after Hungaryʼs Constitutional Court nullified provisions of a law that would have required it to contribute to a top-up compensation fund for the clients of failed brokerage Quaestor. Turnover of the share was HUF 13.0 bln, or a little more than three-fourths of the HUF 16.7 bln session total.

Drugmaker Richter advanced 1.63% to HUF 5,112 on turnover of HUF 1.7 bln. The share price reached HUF 5,130 during the session, a record high.

Oil and gas company MOL rose a marked 2.31% to HUF 13,740 on turnover of HUF 1.0 bln.

Magyar Telekom slipped 0.24% to HUF 409 on turnover of HUF 300m.

The bourseʼs mid-cap BUMIX index rose 0.49% to 1,630.65.

Elsewhere in the region, Warsawʼs WIG 20 was up 0.81% and the Prague PX climbed 1.37%.

In Western Europe, Frankfurtʼs DAX was down 0.18% late Wednesday. Londonʼs FTSE was a fraction over break-even, but the CAC-40 in Paris was down 0.66%.

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