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BUX gains 0.4% on Greece austerity go-ahead

The Budapest Stock Exchange blue chip BUX index closed Wednesday trade up 0.4% at 22,702 as the Hellenic Parliament's passage of the five-year austerity plan necessary to receive the next, €12 billion tranche of European Union-International Monetary Fund bailout funding boosted sentiment among investors in Europe.

The BUX gained 91 on a turnover of HUF 17.25 billion, the first time since June 2 that the BSE has generated more than HUF 17 billion in single-session trade. The BUX fluctuated in a 1.2% range between an intraday high of 22,863 at 1:00 pm and a low of 22,587 at the time of the Greek parliament's vote on the austerity plan at 3:15 pm.

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

OTP Bank gained 2.1% to HUF 5,907 on an exchange-high turnover of HUF 11.28 billion.

Magyar Telekom advanced 1% to HUF 589 on a turnover of HUF 889 million.

Drugmaker Richter finished unchanged at HUF 36,150 on a turnover of HUF 479 million.

Oil and gas company MOL fell 1.3% to HUF 21,295 on a turnover of HUF 4.38 billion.