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BUX up in tight range before the weekend

Telco

The Budapest Stock Exchange's main BUX index finished up 0.29% at 18,691.80 Friday, after falling 0.38% Thursday. It is up 0.69% from the end of last year, after it rose 2.15% in 2013. The BUX went up and down within plus or minus 0.05% around its previous close, picking up only in the last seconds of trade.

Most shares exposed to Russian and Ukrainian markets were restrained again after the EU officially published new sanctions against Russia.

OTP was also subdued following statements of the prime minister and of the parliamentary leader of the governing Fidesz party, as they apparently raised the burden of mandatory refunds to banks' household debtors to at least HUF 1,000 bln from earlier official estimates of HUF 900 bln. Refunds must start next February by reducing repayments 30% on average.

Small relief is, for the time being, that Fidesz shelved a plan of transforming forex loans into forint debts, saying that the question "will be revisited" some time next year, but a planned ban on unilateral retail rate and fee hikes until end of April, 2016, could result in additional damages to banks.

Magyar Telekom adjusted upwards after a dive of 3.66% Thursday, which followed analysts interpretations of background information from the company's CFO as suggesting scarce dividend outlook and higher debt for the foreseeable future.

OTP lost 0.45% to HUF 4,380 on turnover of HUF 1.96 bln from a HUF 3.72 bln session total, less than half the daily average this year.

MOL gained 0.99% to HUF 12,250 on turnover of HUF 712m.

Magyar Telekom recuperated 1.36% to HUF 373 on turnover of HUF 186m.

Richter retreated 0.02% to HUF 4,195 on turnover of HUF 771m.

The bourse's mid-cap BUMIX went out also 0.29% higher at 1,521.45.

For the week, the BUX gained 0.54% after surging 4.57% the previous week.

OTP fell 1.02% after soaring 6.88% last week

MOL rose 2.08% after a gain of 3.39% the previous week.

Magyar Telekom plunged 2.10% after rising 3.25% last week.

Richter improved 4.35% after soaring 4.31% over the previous week.

Elsewhere in the region, Warsaw's WIG20 was up 0.09%, while Prague's PX added 0.24%.

Western Europe's major indices were mixed ahead of their close Thursday, FTSE-100 in London up 0.11%, Frankfurt's DAX30 down 0.49%, and CAC40 in Paris down 0.08%.

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