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BUX drops on higher unemployment, less growth in US

The Budapest Stock Exchange's main BUX index closed down 0.93% at 21,953.89 on Thursday. The BUX opened higher and stayed in positive territory in the morning but turned south together with other European exchanges in the afternoon after data showed new US claims for unemployment benefit unexpectedly climbed to a nine-month high last week.

The publication of the Conference Board leading Economic Index in the US, which rose 0.1%, less than expected, added to gloom although the index turned upwards in the last twenty minutes.

OTP Bank fell 1.19% to HUF 4,990 on turnover of HUF 6.4 billion or just two-thirds of the light HUF 9.5 billion total share turnover of the session.

Oil and gas company MOL fell 1.91% to HUF 20,300 on turnover of HUF 1.2 billion and drug maker Richter dropped 0.46% to HUF 42,850 on trades of HUF 697 million. Magyar Telekom, in contrast, rose 0.45% to HUF 667 million on turnover of HUF 223 million.

The bourse's mid-cap BUMIX index closed up a touch, rising 0.01% to 2,022.33.

Major Western European share indices were all down, with London's FTSE losing 1.72% to trade at 5,211.76 late in the afternoon, Frankfurt's DAX down 1.68% at 6,082.27 and the CAC-40 in Paris dropping 1.79% to 3,582.78.

Elsewhere in the CEE region, Warsaw's WIG-20 fell 0.64% and Prague's PX-50 gained 0.31%. (MTI – Econews)