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BUX flags as looming US default weighs on sentiment

The Budapest Stock Exchange blue-chip BUX index closed Tuesday trade down 0.7% to 21,725 as the continued failure of the US Congress to raise the country's debt limit ahead of the August 2 deadline for avoiding default weighed on sentiment among BSE investors.

The BUX lost 144.66 points on a light turnover of HUF 9.17 billion, fluctuating in a 1.4% range between an intraday high of 22,000.42 shortly after morning bell and a low of 21,685 at 4:10 p.m.

The four blue chips stood as follows at Tuesday's closing bell:

Magyar Telekom fell 1.7% to HUF 538 on a turnover of HUF 390 million.

Drugmaker Richter dropped 1.3% to HUF 37,010 on a turnover of HUF 223 million.

Oil and gas group MOL was down 0.9% to HUF 20,415 on a turnover of HUF 1.65 billion.

OTP Bank inched up 0.1% to HUF 5,539 on a turnover of HUF 6.68 billion.