BUX sheds 2.9% on Italian debt pessimism
The Budapest Stock Exchange’s blue-chip BUX index closed Wednesday trade down 2.86% to 16,195 as a rise in yields on two-year and ten-year Italian bonds to above 7% heightened worries that Italy may be headed for a debt crisis of Greek proportions.
The BUX lost 476.91 points on a composite exchange turnover of HUF 17.58bn, fluctuating in a 4.82% range between an intra-session high of 16,845.21 shortly after morning bell and an intra-session low of 16,033.81 at around 4:40 p.m.
BSE blue-chips stood as follows at Wednesday’s closing bell:
OTP Bank lost 7.66% to HUF 2,990 on an exchange-high turnover of HUF 12.57bn;
Oil and gas company MOL declined 1.91% to HUF 15,695 on a turnover of HUF 2.65bn;
Magyar Telekom lost 0.99% to HUF 500 on a turnover of HUF 940m;
Drug company Richter gained 0.99% to HUF 35,600 on a turnover of HUF 945m.
The BSE Big Four generated 97.3% of the exchange’s composite Wednesday turnover.
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.