The CEO of the Budapest Stock Exchange (BÉT), Árpád Pál, has approved the proposed new composition of the BUX and the BUMIX basket, initiated by the BÉT's Index Committee, the bourse announced in a press release.
While the equities of chemicals company Borsodchem Nyrt and electricity distributor for south Hungary Démász Nyrt were cleared from the BUX basket, the equities of plastic maker Pannonplast Nyrt, vehicle parts and military trucks maker Rába Nyrt, IT company econet.hu and spa hotels operator Danubius Hotels Nyrt were added.
Although four companies met the requirements to be added to the BUMIX basket, only the shares of Graphisoft Park SE, the recently spun-off property division of building software company Graphisoft, were indexed, while the equities of electricity distributor Elmű Nyrt were removed from the basket. The new baskets will be valid as of April 2. The bourse will determine the new members' index weightings on March 27.
Shares of Danubius, which operates spa hotels across eastern Europe and has a hotel at Regent's Park in London, have jumped 12% this year, following a 19% surge in 2006. Econet, a software maker, has climbed 57% in 2007 and Pannonplast, a plastic packaging maker turned stock-market investor, has risen 13%. Rába, a maker of vehicle parts and military trucks, has gained 40%. Hungary's BUX, which has a combined market value of about Ft 7 trillion (€30.4 billion) has fallen 7.6% in 2006. (Napi Gazdaság, Bloomberg)