Are you sure?

BUX rises almost 4%, with OTP, MOL leading gains

The Budapest Stock Exchange's main BUX index rose 3.99% to 23,153.85 on Monday, with OTP Bank and MOL recording the biggest gains.

OTP Bank gained 6.02% to HUF 5,550 on turnover of HUF 17.43 billion, oil and gas company MOL advanced 5.58% to HUF 20,715 on turnover of HUF 3.65 billion, drug maker Richter rose 1.58% to HUF 45,205 on turnover of HUF 3.09 billion and Magyar Telekom gained 1.93% to HUF 688 on turnover of HUF 0.48 billion.

Share turnover amounted to HUF 25.4 billion for the session.

The bourse's mid-cap BUMIX index rose 1.42% to 2,056.80

Roland Kovács of Equilor Investment said global share markets were pushed higher by the positive macrodata and earnings reports published on Monday. The Fed chief's positive comments also helped the global investor optimism. The positive mood influenced trading on the Budapest Stock Exchange.

Balázs Sőre of Buda-Cash Brokerage agreed with this view, adding that MOL and OTP shares did especially well on the BSE on Monday. OTP shares broke through the psychological barrier of HUF 5,400.

Sőre said he believes this is only the start of a positive period and the rise will continue.

Big Western European share indices all rose, with London's FTSE gaining 2.64%, Frankfurt's DAX rising 2.41% and the CAC-40 in Paris advancing 2.85%.

Elsewhere in the CEE region, Warsaw's WIG-20 rose 2.47% and Prague's PX-50 advanced 1.34%. (MTI – Econews)