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Budapest bourse H1 profit up on trading volumes

Budapesti Értéktőzsde Zrt, the Hungarian capital's stock exchange company controlled by HVB Group, said its H1 profit rose 11% as trading volumes on the spot and futures markets increased. Net income in the first six months advanced to Ft 1.45 billion ($6.8 million) from Ft 1.3 billion in the same period last year, the bourse said in a press release published on its Web site on Friday. The exchange had higher income from trading fees as turnover of its prompt and futures markets grew more than expected, the bourse said. The average daily turnover of stock trading rose to Ft 27.4 billion in the H1, from Ft 17.3 billion a year earlier, the exchange said in the statement. HVB Group owns 25.2% of the company, the Vienna Stock Exchange 12.5% and Erste Bank der Oesterreichische Sparkassen AG 12.2%. Oesterreichische Kontrollbank has an 12.5% stake and Raiffeisen Zentralbank Oesterreich AG owns 6.4%. The benchmark BUX index rose 3% this year and increased 0.4% to 21,424 as of 3:15 p.m. Friday in Budapest. (Bloomberg)