BUX rises on cue of peers in western Europe

Telco

The Budapest Stock Exchangeʼs main BUX index finished the session on Friday up 0.75% at 22,705.29, tracking its peers western Europe.

OTP Bank rose 1.57% to HUF 5,840 on turnover of HUF 3.2 bln or about 45% of the HUF 7.2 bln session total.

Oil and gas company MOL dipped 0.37% to HUF 13,505 on turnover of HUF 0.8 bln.

Earlier, HSBC cuts its target price for MOL from HUF 19,300 to HUF 17,400, but maintained its "buy" recommendation for the share.

Drugmaker Richter was up 1.27% at HUF 5,026 on turnover of HUF 2.8 bln.

Magyar Telekom was flat at HUF 387 on turnover of HUF 0.4 bln.

The bourseʼs mid-cap BUMIX index edged up 0.01% to 1,635.41.

Elsewhere in the region, Warsawʼs WIG 20 gained 0.38%, but the Prague PX fell 0.16%.

Western Europeʼs biggest indices were all up in late trade on Friday. Londonʼs FTSE 100 was up 2.30%, Frankfurtʼs DAX climbed 1.54% and the CAC 40 in Paris was up 1.58%.

On the week, the BUX fell 3.94% as OTP dropped 4.42%, MOL fell 2.84%, Richter dipped 5.53% and MTel slipped 1.78%. Turnover for the week was HUF 48.3 bln, up from HUF 41.9 bln a week earlier.

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