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BUX opens up 2.6%

The Budapest Stock Exchange's main BUX index opened up 2.6% at 17,816.90 on Thursday.

OTP Bank rose 5.84% to HUF 3,640, oil and gas company MOL gained 2.89% to HUF 17,290, drug maker Richter advanced 1.43% to HUF 35,800 and Magyar Telekom opened up 0.38% at to HUF 525.

Analysts interviewed by MTI Thursday morning said markets have received with relief the decisions taken at the euro zone debt-crisis summit late, and trading on the BSE could start in an optimistic mood, however, the Hungarian market could underperform slightly.

Ákos Kuti of Equilor Investment said he expected to see optimism on foreign markets on Thursday due to the agreement reached at the euro zone summit. However, the Hungarian bourse could underperform as individual risks such as the outlook for the budget and downgrade fears have come up.

The BUX closed down 2.66% at 17,364.63 on turnover of HUF 13.1bn.