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BUX loses 0.9% on waning eurozone optimism

The Budapest Stock Exchange’s blue-chip BUX index closed Wednesday trade down 0.94% to 17,209.27 on nagging doubt that Friday’s European Union summit will produce an effective solution to the euro-zone debt crisis.

The BUX lost 163.18 points on a composite exchange turnover of HUF 14.8bn, fluctuating in a 2.33% range between an intra-session high of 17,545.97 shortly after morning bell and an intra-session low of 17,137.78 at 3:15 p.m.

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

Drug company Richter lost 3.00% to HUF 33,360 on a turnover of HUF 564m;

Magyar Telekom declined 2.87% to HUF 507 on a turnover of HUF 611m;

Oil and gas company MOL lost 0.28% to HUF 17,950 on a turnover of HUF 1.68bn;

OTP Bank gained 0.24% to HUF 3,278 on an exchange-high turnover of HUF 11.63bn, or 78.6% of the BSE’s total Wednesday trade.

The BSE Big Four generated 97.8% of the exchange’s composite Wednesday turnover.