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Budapest bourse tumbles 1.2%

The Budapest Stock Exchange blue-chip BUX index opened Wednesday trade down 1.24% at 22,776.

Blue chips stood as follows at Wednesday's opening bell:

MOL was down 2.4% at HUF 22,750 on the first day of trade following Prime Minister Viktor Orbán's Tuesday announcement that Hungary bought back a 21.2% stake in the company from Russian peer Surgutneftegas.

OTP Bank fell 1.3% to HUF 5,971.

Magyar Telekom was down 0.7% at HUF 542.

Richter slipped 0.04% to HUF 35,850.

On Tuesday, the BUX advanced 2.7% to 23,061 on a turnover of HUF 15.49 billion.