BUX tracks Western European peers higher


The Budapest Stock Exchangeʼs main BUX index finished up 1.30% at 26,711.67 Tuesday after losing 0.25% on Monday.

The BUX index was above the break-even mark during the whole day. It rose strongly in early trade then moved sideways for several hours. Late afternoon before the end of trade there was another spike in share prices.

The BUX index closely tracked Western European markets on Tuesday. The National Bank of Hungary lowered its key rate by 15bp to 0.90% at an afternoon meeting, but investors were expecting the move and share prices showed no reaction to the decision.

In Western Europe stock prices corrected after Mondayʼs fall and a drop in the euro against the dollar helped boost stocks as investors were still mostly preoccupied by a possible Federal Reserve interest rate increase as early as June.

OTP gained 2.08% to HUF 7,023 on turnover of HUF 3.36 bln from a HUF 6.97 bln session total.

MOL was up 1.69% at HUF 16,515 on turnover of HUF 1.57 bln. 

Magyar Telekom was up 1.11% at HUF 456 on turnover of HUF 641m. 

Richter lost 0.02% to HUF 5,563 on turnover of HUF 1.33 bln.

The bourseʼs mid-cap BUMIX finished 0.12% higher at 1,769.23.

Elsewhere in the region, the WIG-20 in Warsaw was up 0.67% while Pragueʼs PX index edged up 0.16%.

Western Europeʼs major indices were also up before the end of trading. The FTSE100 in London gained 1.48%, the DAX30 in Frankfurt was up by 2.28%, and the CAC40 in Paris was up by 2.56%.

International oil prices rose as the per barrel price of Brent increased by 1.16% to USD 48.91 and the per barrel price of WTI gained 1.41% to USD 48.76.


MOL Weighs Alternatives at Oil Field in SE Hungary Energy Trade

MOL Weighs Alternatives at Oil Field in SE Hungary

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Automotive Industry Experiences Best Q3 on Record Automotive

Automotive Industry Experiences Best Q3 on Record

Hard Rock Hotel Opens 'Star Chalet' for Winter Season Hotels

Hard Rock Hotel Opens 'Star Chalet' for Winter Season


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.