Richter, OTP rallies lift BUX


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%.


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