BUX up, led by strong Richter

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 1.14% at 25,737.40 on Tuesday after losing 0.98% on Thursday before the Easter holiday.

The BUX index was above the break-even mark during the whole day. The BUX peaked shortly before noon, it lost some of its gains in the next hours before again gaining strength and finishing higher in the evening. 

The price of all four Hungarian blue-chips increased with Richter clearly proving to be the strongest of the group. Richterʼs share price was lifted after the company said the European Medicines Agency (EMA) accepted its regulatory submission for cariprazine, an antipsychotic for the treatment of schizophrenia. 

European stocks mostly rose on Tuesday and snapped a four-session losing streak, which was led by falling share prices of banks and resource-related companies. The BUX index still outperformed Western European peers as Western European gains were only slight.  

OTP gained 0.97% to HUF 6,733 on turnover of HUF 2.87 bln from a HUF 7.74 bln session total. 

MOL was up 0.69% at HUF 15,960 on turnover of HUF 2.48 bln. 

Magyar Telekom climbed 0.46% to HUF 441 on turnover of HUF 657m. 

Richter jumped 2.32% to HUF 5,423 on turnover of HUF 1.62 bln.  

The bourseʼs mid-cap BUMIX finished 0.19% higher at 1,737.85. 

Elsewhere in the region, the WIG-20 in Warsaw was up 0.91% while Pragueʼs PX index gained 0.48%. 

Western Europeʼs major indices were mostly up ahead of the end of trading. The FTSE100 in London lost 0.25%, the CAC40 in Paris was up 0.67% and the DAX30 in Frankfurt gained 0.22%. 

International oil prices fell as the per barrel price of Brent decreased by 3.11% to USD 39.60 and the per barrel price of WTI dropped by 3.48% to USD 38.02.

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