BUX soars as Alcoa results, Fitch statement boost sentiment
The Budapest Stock Exchange’s blue-chip BUX index closed Tuesday trade up 2.40% to 17,068.69 as strong overnight results from US aluminum company Alcoa and Fitch’s Tuesday-afternoon statement that it does not expect to downgrade France this year boosted sentiment at bourses throughout Europe.
The BUX gained 400.57 points on a composite exchange turnover of HUF 16.59bn, fluctuating in a 2.52% range between an intra-session low of 16,729.65 at 9:20 a.m. and an intra-session high of 17,151.45 at 4:00 p.m.
BSE blue-chips stood as follows at Tuesday’s closing bell:
Oil and gas company MOL gained 3.76% to HUF 17,400 on a turnover of HUF 4.18bn;
OTP Bank advanced 3.64% to HUF 3,220 on an exchange-high turnover of HUF 10.23bn;
Magyar Telekom gained 1.78% to HUF 515 on a turnover of HUF 1.57bn;
Drug company Richter lost 0.28% to HUF 35,800 on a turnover of HUF 308m.
The BSE Big Four generated 98.2% of the exchange’s composite Tuesday 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.