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BUX up in line with Europe

Telco

The Budapest Stock Exchange's main BUX index finished up 0.23% at 17,741.54 Monday, after falling 0.70% Friday. Last week it lost 1.08%, after rising 1.56% the previous week. It is down 4.43% from the end of last year, after it rose 2.15% in 2013. The Budapest parquet followed European peers upwards in an adjustment after last week's serious falls.

The rise signaled some relief, too, as Hungary wound up a series of elections. Parliamentary elections in April and EU elections in May were followed by local elections on Sunday.

But the timid pace and the low volume in the marketplace also reflected wariness as analysts expect new government policies to follow after the grace period of elections is over.

OTP gained 1.08% to HUF 4,043 on turnover of HUF 2.48 bln from a HUF 4.30 bln session total, a tad more than half of the daily average this year.

MOL rose 0.25% to HUF 11,955 on turnover of HUF 493 mln.

Magyar Telekom shed 0.29% to HUF 347, a three-month low, on turnover of HUF 137 mln.

Richter retreated 0.45% to HUF 4,002 on turnover of HUF 1.19 bln.

The bourse's mid-cap BUMIX went out 0.08% lower at 1,494.80.

Elsewhere in the region, Warsaw's WIG20 was up 0.16%, while Prague's PX sank 0.19%.

Western Europe's major indices were all up ahead of their close Monday, FTSE-100 in London 0.40% DAX30 in Frankfurt 0.27%, and CAC40 in Paris 0.08%.

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