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BUX opens up 0.08%

Analysts predict low turnover and modest losses, because of disappointing U.S. macro figures, Irish bank sector news and high Portuguese debts figures.
The Budapest Stock Exchange's blue-chip BUX index opened Friday trade up 0.08% at 23,077.96.

BSE blue-chips stood as follows at Friday's opening bell: drug company Richter was up 0.53% at HUF 39,200; OTP Bank was up 0.43% at HUF 5,575; Magyar Telekom was unchanged at HUF 590; Oil and gas company MOL was down 0.35% at HUF 23,895.

On Thursday, the BUX closed up 0.10% to 23,059.77 on a turnover of HUF 12.27bn.

Zsolt Balásy of Concorde Securities predicted that the BUX would shuffle in ranges amid light turnover on Friday.

Gergely Gabler of Erste Investment said that the publication of disappointing U.S. macroeconomic data and higher-than-expected Portuguese debt figures, news that four Irish banks failed their stress tests and a statement from a Federal Reserve official that rates should be raised to combat inflation are likely to drop the BUX index to a modest loss during the BSE's Friday session.