ADVERTISEMENT

BUX slumps as eurozone debt fears push index to two-year low

Telco

The Budapest Stock Exchange's BUX index closed Monday trade down 2.9% to 16,541, falling with blue-chip indices throughout Europe after a statement from the deputy finance minister of Greece that the country has enough money to operate until next month intensified worries regarding eurozone debt.

The BUX lost 501.23 points to close under the 17,000-point plateau for the first time since July 29, 2009. The BSE generated light composite exchange turnover of HUF 7.6 billion due to the suspension of trade on shares of heavyweight issuer OTP Bank for the entire session pending disclosure of extraordinary information. Prime Minister Viktor Orbán on Monday announced details of a plan allowing Hungarians with foreign-currency-denominated mortgages to pay back their loans in a single installment at a fixed exchange rate.

The BUX fluctuating in a 2.6% range between an intra-session high at the index's opening mark of 16,791.33 and an intra-session low of 16,353.87 at 10:00 a.m.

BSE blue-chips stood as follows at Monday's closing bell:

Oil and gas company MOL lost 6.33% to HUF 14,425 on an exchange-high turnover of HUF 5.01 billion;

Drug company Richter declined 4.83% to HUF 32,500 on a turnover of HUF 618m;

Magyar Telekom lost 0.20% to HUF 488 on a turnover of HUF 717m.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.