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BUX gains 1.7% on eurozone debt optimism

The Budapest Stock Exchange’s blue-chip BUX index closed Monday trade up 1.71% to 17,745.74 on an improvement in the eurozone’s debt outlook stemming from the announcement of austerity measures in Italy and hope for an agreement between France and Germany on steps needed to save the single European currency.

The BUX gained 298.10 points on a composite exchange turnover of HUF 11.78bn, fluctuating in a 2.57% range between an intra-session low at the index’s opening mark of 17,475.26 and an intra-session high of 17,923.54 at 4:00 p.m.

BSE blue-chips stood as follows at Monday’s closing bell:

Oil and gas company MOL gained 3.31% to HUF 18,700 on a turnover of HUF 2.76bn;

OTP Bank advanced 2.48% to HUF 3,387 on an exchange-high turnover of HUF 7.85bn;

Magyar Telekom gained 0.38% to HUF 522 on a turnover of HUF 347m;

Drug company Richter lost 0.71% to HUF 34,105 on a turnover of HUF 503m.

The BSE Big Four generated 97.3% of the exchange’s composite Monday turnover.