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BUX loses 0.97% on declines from OTP and MOL

The Budapest Stock Exchange's blue-chip BUX index closed Thursday trade down 0.97% to 22,835.24, sustaining a counter-trend decline on losses from exchange heavyweights OTP Bank and MOL, both of which published their first-quarter earnings reports before the open of markets on Thursday morning.

The BUX lost 222.92 points on a composite exchange turnover of HUF 17.64 billion fluctuating in a 1.83% range between an intra-session high of 23,222.94 shortly after morning bell and an intra-session low of 22,797.21 at 9:45 p.m.

The mid-cap BUMIX index also declined on Thursday, losing 27 points, or 1.44%, to 1,844.24.

BSE blue-chips stood as follows at Thursday's closing bell:

Oil and gas company MOL lost 1.74% to HUF 22,895 on a turnover of HUF 2.14 billion after announcing in its quarterly IFRS report that it had slightly lower-than-expected net income of HUF 92.7 billion in Q1;

OTP Bank declined 1.23% to HUF 6,025 on an exchange-high turnover of HUF 12.96 billion after announcing in its quarterly IFRS report that it had better-than-expected consolidated after-tax profit of HUF 37.2 billion in Q1;

Magyar Telekom lost 0.37% to HUF 534 on a turnover of HUF 606 million;

Magyar Telekom advanced 0.55% to HUF 35,800 on a turnover of HUF 1.14billion.

The BSE Big Four generated 95.5% of the exchange's composite Thursday turnover.

Other major central and eastern European blue-chip stock indices closed higher on Thursday, with Prague's PX-50 gaining 0.76% and Warsaw's WIG-20 advancing 0.54%.