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BUX gains 1.76% on hopes of Slovak euro bailout approval

The Budapest Stock Exchange's blue-chip BUX index closed Wednesday trade up 1.76% to 17,311.68 as news that Slovakia would likely ratify the European Financial Stability Facility debt-bailout fund boosted sentiment at bourses throughout Europe.

The BUX gained 298.94 points on a composite exchange turnover of HUF 16.58bn, fluctuating in a 3.2% range between an intra-session low of 16,882.89 at 9:25 a.m. and an intra-session high of 17,423.17 at around 4:15 p.m.

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

OTP Bank gained 3.36% to HUF 3,411 on an exchange-high turnover of HUF 12.48bn, or just over 75% of the BSE's Wednesday trade;

Drug company Richter advanced 3.15% to HUF 35,380 on a turnover of HUF 863m;

Oil and gas company MOL advanced 0.90% to HUF 16,900 on a turnover of HUF 2.13bn;

Magyar Telekom lost 0.78% to HUF 512 on a turnover of HUF 761m.

The BSE Big Four generated 97.9% of the exchange's composite Wednesday turnover.