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