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BUX posts 3.5% counter-trend advance

The Budapest Stock Exchange’s blue-chip BUX index closed Monday trade up 3.48% to 16,668.12 as optimism reigned at the BSE despite losses at bourses throughout Europe.

The BUX gained 560.40 points on a composite exchange turnover of HUF 15.65bn, fluctuating in a 2.57% range between an intra-session low of 16,250 shortly after morning bell and an intra-session high at the index’s closing mark of 16,668.12.

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

Magyar Telekom gained 5.20% to HUF 506 on a turnover of HUF 982m;

OTP Bank advanced 4.97% to HUF 3,107 on an exchange-high turnover of HUF 12.14bn, or 77.6% of the BSE’s Monday trade;

Oil and gas company MOL gained 2.88% to HUF 16,770 on a turnover of HUF 1.58bn;

Drug company Richter advanced 2.28% to HUF 35,900 on a turnover of HUF 688m.

The BSE Big Four generated 98.4% of the exchange’s composite Monday turnover.