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BUX opens up 0.53%

The Budapest Stock Exchange's blue-chip BUX index opened Thursday trade up 0.53% at 23,180.40.

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

OTP Bank was up 0.90% at HUF 6,155 after announcing in its quarterly IFRS report before the open of markets on Thursday that it had better-than-expected consolidated after-tax profit of HUF 37.2 billion in Q1;

Oil and gas company MOL was up 0.47% at HUF 23,410 after announcing in its quarterly IFRS report before the open of markets that it had slightly lower-than-expected net income of HUF 92.7 billion in Q1;

Drug company Richter was up 0.29% at HUF 35,710;

Magyar Telekom was up 0.19% at HUF 537.

On Wednesday, the BUX snapped a five-session losing streak, gaining 0.34% to 23,058.16 on a turnover of HUF 13.05billion.

Attila Csáky of UniCredit Bank commented that OTP's slightly better-than-expected first-quarter earnings could provide the company's share value with a modest boost on Thursday, while MOL's mixed Q1 results are unlikely to exercise a significant impact on investor sentiment vis-à-vis the company. Csáky added that European blue-chip indices are likely to continue to benefit from a positive correction of previous losses on Thursday, noting that news regarding Greece's reemerging debt crisis could influence the course of trade European Stock Exchanges, including the BSE.