BSE daily share turnover doubles in November

Telco

Average daily share turnover of the Budapest Stock Exchange (BSE) saw a 111% rise, up to HUF 10.3 billion, in November, compared to the same month a year earlier, with average daily share turnover up by 45% as compared to the previous month, BSE said yesterday.

Spot market turnover came to HUF 222 bln for the month, while share transactions accounted for more than HUF 215 bln of the total, Hungarian news agency MTI reported yesterday. Turnover of derivatives reached HUF 219 bln in November, up 22.2% from the same month a year earlier, however, 8.4% below the turnover recorded in October, MTI added.

The BUX index gained 10.3% in November and was up 42.9% compared to the end of 2014. On November 26 the BUX reached 23,826.74 points, a more than four and a half year record, MTI said

Days after the Hungarian National Bank (MNB) bought a majority stake in the Budapest bourse and put its deputy governor in charge, the Board of Directors of the bourse early yesterday announced an extraordinary meeting for December 16 with an agenda that includes replacing members of the Board.

MNB announced a week ago that it had acquired a majority stake in the Budapest bourse, and central bank deputy governor Márton Nagy has been put in charge of the bourse. Nagy also said that the MNB is planning to prepare a new strategy for the development of the BSE.

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