BUX slips on cue of Western European markets hit by weaker yuan

Telco

The Budapest Stock Exchangeʼs main BUX index closed the session on Tuesday down 1.16% at 22,282.40, declining parallel with big Western European indices after China devalued its currency.

OTP Bank lost 0.35% to HUF 5,690. Turnover of the share came to HUF 2.7 bln or a little more than 40% of the HUF 6.3 bln session total.

Oil and gas company MOL lost 2.41% to HUF 14,390 on turnover of HUF 2.0 bln. The share fell with other oil stocks on concerns the weaker yuan could hurt Chinese demand as well as on news that OPEC membersʼ output reached a three-year high in July.

Drugmaker Richter, which earlier projected 15% sales growth, calculated in euros, in China this year, slipped 1.48% to HUF 4,405. Turnover of the share reached HUF 930 mln.

Magyar Telekom finished down 0.49% at HUF 409 on turnover of HUF 523 mln.

Elsewhere in the region, Warsawʼs WIG 20 was down 0.12% and the Prague PX edged down 0.04%.

Western Europeʼs biggest indices were all lower late Tuesday. Frankfurtʼs DAX was down 2.76%, Londonʼs FTSE fell 1.06% and the CAC 40 in Paris slid 1.94%.

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