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BUX opens lower, following Friday's global trend

The Budapest Stock Exchange's main BUX index opened down 0.34pc at 21,880.10 on Monday, following the trend seen on regional and developed markets on Friday, when the Hungarian market remained closed for a national holiday.

OTP Bank fell 0.84pc to HUF 4,948, oil and gas company MOL opened flat at HUF 20,300, drug maker Richter inched down 0.01pc to HUF 42,845 and Magyar Telekom lost 0.90pc to HUF 661.

Analysts interviewed by MTI said share prices are expected to fall on the BSE, which remained closed for holiday on Friday, making up for the falls suffered by developed and regional markets on the last trading day of last week.

Zsolt Balásy of Concorde Securities said both regional and developed markets suffered losses between 0.5pc-1.5pc on Friday, which could influence the Budapest bourse.

CIB Bank's analysts said European futures indices are pointing to a positive opening. Asian markets, however, continued to move in red territory in the morning.

US share indices closed mixed on Friday, however, they showed steep falls before the close. As the Q2 reporting season is coming to an end, markets will be focusing on macroeconomic data this week. On Monday, the Markit research institute will publish the euro zone's preliminary procurement manager index for August in the manufacturing and services sectors.

The BUX closed down 0.93pc at 21,953.89 on Thursday, the last trading day of the week, on share turnover of HUF 9.5bn. (MTI-Econews)