FX loan conversion news lifts BUX
The Budapest Stock Exchange's main BUX index climbed 2.93% to 17,625.48 on Monday. The advance was led by OTP Bank, whose share price rose on news the country's retail FX lending stock would be converted at market rates.
OTP Bank gained 5.10% to HUF 4,100 after the announcement of the conversion rate on Sunday. Turnover of the share came to HUF 8.2 bln of the HUF 10 bln session total. Oil and gas company MOL rose 1.49% to HUF 11,935 on turnover of HUF 588 mln. Drugmaker Richter climbed 3.27% to HUF 3,850 on turnover of HUF 867 mln. Magyar Telekom was up 0.87% at HUF 346 on turnover of HUF 156 mln.
Elsewhere in the region, Warsaw's WIG 20 fell 0.43% but the Prague PX rose 0.70%. Western Europe's biggest indices were all higher late on Monday.
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.