BUX up almost 3% on correction

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 2.94% at 21,389.35 Tuesday after dropping 6.07% Monday.

Investor sentiment recovered on Tuesday and share prices of all four blue chips increased on the BSE following a more than 6% fall on Monday when investors concerned about the health of Chinaʼs economy sold heavily.

Share prices in China continued to fall on Tuesday, but European markets were on a path to recovery giving confidence to traders in Hungary.

The National Bank of Hungaryʼs Monetary Council decided to keep the central bankʼs key rate on hold at 1.35% at a policy meeting on Tuesday. The decision was expected and did not influence trading.

OTP gained 3.69% to HUF 5,450 on turnover of HUF 6.09 bln from a HUF 11.40 bln session total.

MOL was up 2.70% at HUF 13,865 on turnover of HUF 2.75 bln.

Magyar Telekom was up 1.57% at HUF 388 on turnover of HUF 310 mln.

Richterʼs share price increased 3.04% to HUF 4,235 on turnover of HUF 2.10 bln.

The bourseʼs mid-cap BUMIX went out 1.35% higher at 1,647.15.

Elsewhere in the region, the WIG 20 in Warsaw was up 0.69%, while Pragueʼs PX jumped 4.57%.

Western Europeʼs major indices were all up ahead of their close on Tuesday, the FTSE100 in London 3.27%, the DAX30 in Frankfurt 5.45%, and the CAC40 in Paris 4.76%.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.