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BUX up as Western European peers fall

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 0.52% at 26,451.02 on Thursday after gaining 2.24% on Wednesday. 

The BUX index was briefly above the break-even mark in the first hour of trading before falling by around 0.6% in the morning. At noon the BUX was still down but tentative signs of recovering were showing before a full upswing started late afternoon, pushing the share price of all four blue-chips higher. 

European shares meanwhile fell after solid gains in the previous session, with French telecoms and Italian banks underperforming. A 0.1% annual fall in Eurozone inflation in March did little to reassure European investors. 

OTP gained 0.38% to HUF 6,926 on turnover of HUF 6.61 bln from a HUF 13.90 bln session total. 

MOL was up 0.91% at HUF 16,590 on turnover of HUF 2.93 bln. 

Magyar Telekom climbed 0.88% to HUF 456 on turnover of HUF 971m. 

Richter edged up 0.16% to HUF 5,499 on turnover of HUF 3.25 bln.  

The bourseʼs mid-cap BUMIX finished 0.16% higher at 1,745.45. 

Elsewhere in the region, the WIG-20 in Warsaw was down 0.11% while Pragueʼs PX index lost 0.10%. 

Western Europeʼs major indices were down ahead of the end of trading. The FTSE100 in London lost 0.36%, the CAC40 in Paris 1.30% and the DAX30 in Frankfurt 0.80%. 

International oil prices rose as the per barrel price of Brent increased by 1.22% to USD 40.54 and the per barrel price of WTI gained 1.04% to USD 38.72.

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