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BUX opens up 1.17% on positive global sentiment

The Budapest Stock Exchange's main BUX index opened up 1.17% at 22,525.16 on Monday amid optimism on global markets.

OTP Bank rose 1.43% to HUF 5,310, oil and gas company MOL gained 1.63% to HUF 19,940, drug maker Richter advanced 0.90% to HUF 44,900 and Magyar Telekom rose 0.74% to HUF 680.

The BUX lost 1.83%, closing at 22,265.63 on Friday, on turnover of HUF 13.62 billion.

The analysts interviewed by MTI said they expected an optimistic mood on the BSE on Monday.

Positive investor mood persists on global markets, which means we can also hope for a breakthrough every day, which would be the most spectacular in the case of OTP Bank shares, above HUF 5,400, Zsolt Balasy of Concorde Securities said.

Balázs Sore of Buda-Cash Brokerage also emphasized the positive mood and the big question concerning OTP's share price. The market could be influenced on Monday by manufacturing sector data from overseas and from the UK, as well as the Fed chief's comments in the afternoon, he added.

CIB Bank's analysts said the manufacturing sector could be in focus on both sides of the Atlantic on Monday, with the manufacturing sector ISM index due out in the US, while the reporting season will continue in Europe with the results of BNP Paribas, Linde and Metro. European futures point to a positive opening as Asia rose as well, they said. (MTI – Econews)