BUX up on strong OTP

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 0.69% at 23,556.51 Thursday after losing 0.69% on Wednesday. The BUX index was above the break-even point during the whole day, mostly holding steady around a 0.90% gain before slightly edging lower late afternoon but still finishing the day with a rise.

Following the last few day of volatility international oil prices were mostly stable around USD 34.5 per barrel price for the Brent and USD 32.3 per barrel for the WTI, strengthening investor confidence in foreign markets.

On Thursday the European Commission released its winter economic forecast, projecting Hungaryʼs economy will grow by 2.1% this year and 2.5% next year. The projection for this year was lowered slightly from 2.2% in the previous EC forecast released early last November, while the fresh projection is under the governmentʼs official target for 2.5% growth this year.

OTP gained 2.00% to HUF 6,109 on turnover of HUF 4.51 bln from a HUF 7.75 bln session total.

MOL was up 0.78% at HUF 13,615 on turnover of HUF 921 mln.

Magyar Telekom dipped 0.25% to HUF 394 on turnover of HUF 568 mln.

Richterʼs share price decreased 0.56% to HUF 5,355 on turnover of HUF 1.70 bln.

The bourseʼs mid-cap BUMIX finished 0.40% higher at 1,654.18.

Elsewhere in the region, the WIG-20 in Warsaw was up 2.85% while Pragueʼs PX index gained 1.21%.

Western Europeʼs major indices were mostly up ahead of the end of trading. The FTSE100 in London gained 1.08%, the DAX30 in Frankfurt was down by 0.48%, and the CAC40 in Paris was up 0.06%.

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