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BUX slips on global growth concerns

Telco

The Budapest Stock Exchange's main BUX index finished the session on Tuesday down 0.37% at 17,963.83 , dropping with other European indices on concerns over economic growth.

The index fell as Germany released weak data on industrial output and the International Monetary Fund cut its outlook for global growth. The decline may have been tempered by the IMF's forecast for Hungary's GDP growth, which was raised.

OTP Bank lost 0.07% to HUF 4,150 on turnover of HUF 3.04 bln or about two-thirds of the HUF 4.88 bln session total.

Oil and gas company MOL dipped 0.12% to HUF 12,035 on turnover of HUF 707m.

Magyar Telekom dropped 1.66% to HUF 355. The telco said on Tuesday that it did not expect to pay dividend on 2014 earnings based on currently available information. Turnover of the share came to HUF 433 mln.

Drugmaker Richter slipped 0.27% to HUF 4,000 on turnover of HUF 561 mln.

The bourse's mid-cap BUMIX index declined 0.43% to 1,493.11.

Elsewhere in the region, Warsaw's WIG20 was down 0.43% and the Prague PX dove 1.38%.

Western Europe's biggest indices were all lower late in the day.

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