BUX up, tracks Western European peers

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 1.13% at 27,394.19 Tuesday after losing 0.17% on Monday.

The BUX index rose in early trade and climbed higher during the morning. For most of the day the BUX index moved sideways, preserving its early gains before slightly rising some more in the last half hour of trading to finish close to an intra-day high.

In Western Europe share prices rose for a second day as Federal Reserve Chair Janet Yellen reiterated her faith in US growth and indicated that interest rates will not rise ahead of time. Signs of economic progress in Europe also helped reassure investors.

OTP gained 1.61% to HUF 7,000 on turnover of HUF 3.30 bln from a HUF 8.47 bln session total.

MOL was up 1.25% at HUF 16,565 on turnover of HUF 2.75 bln. 

Magyar Telekom lost 0.22% to HUF 450 on turnover of HUF 387m. 

Richter was up 1.01% at HUF 5,702 on turnover of HUF 1.92 bln.

The bourseʼs mid-cap BUMIX finished 0.13% lower at 1,759.35.

Elsewhere in the region, the WIG-20 in Warsaw gained 1.98% while Pragueʼs PX index was up 0.33%.

Western Europeʼs major indices were up before the end of trading. The FTSE100 in London gained 0.06%, the DAX30 in Frankfurt was up by 1.59%, and the CAC40 in Paris climbed 1.21%.

International oil prices rose as the per barrel price of Brent increased by 0.81% to USD 50.96 and the per barrel price of WTI gained 0.62% to USD 50.00.

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