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World Cup bad for business at the Budapest Stock Exchange

The Budapest Stock Exchange (BSE) sustained a 62% decline in turnover during the first week of the 2010 World Cup, the business daily Napi Gazdaság reported.

The BSE generated average daily turnover of HUF 16.2 billion during the first week of the football tournament, compared to HUF 42.8 billion the previous week.

The month-long tournament could deprive brokerages of up to HUF 100 billion in commissions and the BSE of up to 1% of the bourse's annual turnover as investors shun trade to follow the matches, Napi Gazdaság calculated. (MTI – Econews)