BUX up on European rally
The Budapest Stock Exchange's main BUX index finished up 0.68% at 17,272.27 Wednesday, after falling 1.12% Tuesday. It is down 6.96% from the end of last year, after it rose 2.15% in 2013. With local woes broadly unchanged, the Budapest parquet corrected up on a strong rally in leading European markets.
Statistics on accelerating growth of retail trade in Hungary in September also helped as well as a survey of economic portal Portfolio.hu which showed fund managers became more optimistic on a three-month horizon.
OTP lost 0.23% to HUF 3,941 on turnover of HUF 2.02 bln from a HUF 4.16 bln session total, a hair above half the daily average this year.
MOL gained 0.78% to HUF 11,640 on turnover of HUF 494 mln.
Magyar Telekom surged 1.75% to HUF 348 on turnover of HUF 751 mln.
Richter advanced 1.19% to HUF 3,830 on turnover of HUF 836 mln.
The bourse's mid-cap BUMIX went out 0.41% higher at 1,461.17.
Elsewhere in the region, Warsaw's WIG20 was down 0.64%, while Prague's PX sank 1.02%. Western Europe's major indices were all up ahead of their close Wednesday, FTSE-100 in London 1.14%, DAX30 in Frankfurt 1.58%, and CAC40 in Paris 1.91%.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.