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BUX falls, forint hits new negative record

The Budapest Stock Exchangeʼs main BUX index finished down 6.54% at 29,464.28 on Wednesday as markets continue to be dominated by fears over the coronavirus pandemic, while the forint weakened to 353.63 against the euro, according to a report by state news wire MTI.

OTP Bank lost 8.91% to HUF 8,940 on turnover of HUF 11.77 billion from a HUF 18.44 bln session total.

Oil and gas company MOL dropped 11.12% to HUF 1,502 on turnover of HUF 2.74 bln.

Magyar Telekom fell 0.56% to HUF 352 on turnover of HUF 305 million. 

Drugmaker Richter closed down 1.95% to HUF 5,525 on turnover of HUF 2.78 bln.

The bourseʼs mid-cap BUMIX finished 3.95% lower at 2,452.38.

Elsewhere in the region, the WIG-20 in Warsaw was down 1.96% while Pragueʼs PX index lost 6.48%.

Western Europeʼs major indices were down near the end of trading. The FTSE100 in London lost 4.32%, the DAX30 in Frankfurt was down by 5.17%, and the CAC40 in Paris dipped 6.22%.

The forint traded at 353.63 to the euro around 5:30 in the evening on Wednesday, weakening from 347.06 late Tuesday.

Late in the afternoon, the forint slipped as far as 354.95 to the euro, a new low.

The forint traded at 325.97 to the dollar late Wednesday, softening from 315.66 on Tuesday.

The Hungarian currency slipped to 335.64 from 328.11 against the Swiss franc.