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BUX sheds 2.9% on Italian debt pessimism

The Budapest Stock Exchange’s blue-chip BUX index closed Wednesday trade down 2.86% to 16,195 as a rise in yields on two-year and ten-year Italian bonds to above 7% heightened worries that Italy may be headed for a debt crisis of Greek proportions.

The BUX lost 476.91 points on a composite exchange turnover of HUF 17.58bn, fluctuating in a 4.82% range between an intra-session high of 16,845.21 shortly after morning bell and an intra-session low of 16,033.81 at around 4:40 p.m.

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

OTP Bank lost 7.66% to HUF 2,990 on an exchange-high turnover of HUF 12.57bn;

Oil and gas company MOL declined 1.91% to HUF 15,695 on a turnover of HUF 2.65bn;

Magyar Telekom lost 0.99% to HUF 500 on a turnover of HUF 940m;

Drug company Richter gained 0.99% to HUF 35,600 on a turnover of HUF 945m.

The BSE Big Four generated 97.3% of the exchange’s composite Wednesday turnover.