BUX tracks Western European peers lower

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 1.23% at 26,539.16 Tuesday after losing 0.01% on Monday.

The BUX index started higher in early trade but after one hour it was already falling and continued to do so for the rest of the day, reaching its lowest point just before the end of trade. Share prices declined across the board and all four of the blue-chips finished lower. 

Investor sentiment in Western European markets was low and stock prices headed for a three-day decline. According to analysts a stronger euro weighed on exporters and lenders fell on weak earnings reports. Stock indexes started with a fall in the morning and did not manage to recover. 

OTP was down 1.12% to HUF 7,119 on turnover of HUF 2.83 bln from a HUF 5.91 bln session total. 

MOL lost 2.10% to HUF 16,320 on turnover of HUF 1.07 bln.  

Magyar Telekom dropped 0.63% to HUF 471 on turnover of HUF 589m.  

Richter was down 0.74% at HUF 5,375 on turnover of HUF 1.31 bln.  

The bourseʼs mid-cap BUMIX finished 0.59% lower at 1,780.63. 

Elsewhere in the region, the WIG-20 in Warsaw was up 0.16% while Pragueʼs PX index lost 1.39%. 

Western Europeʼs major indices were down before the end of trading. The FTSE100 in London was down 0.64%, the DAX30 in Frankfurt lost 1.70%, and the CAC40 in Paris lost 1.28%. 

International oil prices were lower as the per barrel price of Brent decreased by 2.42% to USD 44.72 and the per barrel price of WTI lost 2.90% to USD 43.48.

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