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BUX slumps to 0.3% loss on waning eurozone debt hopes

The Budapest Stock Exchange’s blue-chip BUX index closed Wednesday trade down 0.27% to 17,603.35, slipping into the red shortly before closing bell on fading hope that banks in Europe would use the European Central Bank’s three-year financing auction to buy peripheral sovereign-debt.

The BUX lost 47.08 points on a composite exchange turnover of HUF 13.57bn, fluctuating in a 2.16% range between an intra-session high of 17,870.14 at 9:15 a.m. and an intra-session low of 17,483.56 at 2:30 p.m.

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

OTP Bank lost 2.36% to HUF 3,355 on an exchange-high turnover of HUF 10.73bn;

Oil and gas company MOL declined 0.11% to HUF 18,000 on a turnover of HUF 1.09bn;

Magyar Telekom gained 1.56% to HUF 521 on a turnover of HUF 1.03bn;

Drug company Richter advanced 0.84% to HUF 36,090 on a turnover of HUF 336m.

The BSE Big Four generated 97.2% of the exchange’s composite Wednesday turnover.