ADVERTISEMENT

Richter, OTP rallies lift BUX

Telco

The Budapest Stock Exchangeʼs main BUX index rallied on Wednesday, to finish up 2.69% at 23,693.38, climbing on big advances by drugmaker Richter and OTP Bank.

Richter rose 3.99% to HUF 5,450. Turnover of the share was HUF 4.4 bln, about one-third of the HUF 13.6 bln session total.

OTP Bank gained 3.32% to HUF 5,970 on turnover of HUF 6.2 bln. 

MKB analyst Ákos Kuti said on news channel M1 that the shareʼs price may have been lifted by the governmentʼs announcement in the afternoon of the expansion of preferential home loans for families that commit to having three children as well as a confirmation that private Hungarians who build their own homes would be eligible to reclaim VAT.

Oil and gas company MOL was up 2.08% at HUF 14,005 on turnover of HUF 2.6 bln.

Magyar Telekom finished flat at HUF 405 on turnover of HUF 428 mln.

The bourseʼs mid-cap BUMIX index fell 0.34% to 1,604.42 on the day.

The BUX outpaced its peers in the region as well as in Western Europe.

Warsawʼs WIG 20 climbed 1.79% and the Prague PX edged up 0.12%.

Londonʼs FTSE was up 0.71% late in the day, Frankfurtʼs DAX climbed 0.35% and the CAC 40 in Paris gained 0.30%.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

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.