BUX up almost 3% on correction


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%.


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