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BUX opens up 0.43%

The Budapest Stock Exchange's main BUX index opened up 0.43% at 22,036.21 on Monday, correcting after Friday's decline on rating agency announcements.

OTP Bank rose 1.47% to HUF 5,105, oil and gas company MOL gained 0.26% to HUF 19,550, drug maker Richter lost 0.21% to HUF 44,505 and Magyar Telekom opened up 0.45% at HUF 668.

The BUX closed down 1.50% at 21,942.87 on Friday, on total share turnover of HUF 20.8 billion.

Analyst Roland Kovács of Equilor Investment said European markets could be influenced by Friday's positive opening of US stock exchanges. Furthermore, the Hungarian bourse outperformed compared to global markets on Friday as two international rating agencies announced negative moves regarding Hungary. The analyst said he expected to see a correction of Friday's fall on the BSE on Monday.

European share indices are also expected to rise on Monday after most banks passed the stress test; the results were published after the closing of the markets on Friday. (MTI-ECONEWS)