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BUX slips on late afternoon losses

The Budapest Stock Exchange blue chip BUX index fell 0.2% to 21,769 on Tuesday as a late slump into negative territory blemished an afternoon rally from sharp early losses stemming from continuing fears of euro-zone debt contagion.

The BUX closed down 47 points, falling 100 points in the final minutes of trade after rising more than 250 points over the previous three and a half hours. The BUX fluctuated in a 2.4% range between an intraday low of 21,392 at 10:00 am and a high of 21,898 at 4:10 pm.

The four blue chip companies stood as follows at Tuesday's closing bell:

Drugmaker Richter fell 1.6% to HUF 36,305 on a turnover of HUF 1.59 billion.

OTP Bank declined 1.2% to HUF 5,495 on a heavy, exchange-high turnover of HUF 17.57 billion.

Magyar Telekom dropped 0.7% to HUF 558 on a turnover of HUF 1.18 billion.

Oil and gas company MOL jumped 2.1% to HUF 20,600 on a turnover of HUF 4.05 billion.