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BUX soars as Alcoa results, Fitch statement boost sentiment

Telco

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.

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