BUX climbs 0.80%, outperforming peers in W Europe

Telco

The Budapest Stock Exchangeʼs main BUX index finished up 0.80% at 27,142.26 on Friday, rising for most of the day and outperforming its peers in Western Europe.

OTP gained 1.38% to HUF 7,323 on turnover of HUF 7.53 bln from a HUF 13.54 bln session total. National Economy Minister Mihaly Vargaʼs announcement of a HUF 20 bln cut in the bank levy next year -- corresponding to a 25% average reduction -- may have supported OTP Bankʼs share price.

MOL was up 0.92% at HUF 16,450 on turnover of HUF 1.97 bln. 

Magyar Telekom climbed 0.42% to HUF 473 on turnover of HUF 387m. 

Richter rose 0.11% to HUF 5,606 on turnover of HUF 3.55 bln. 

The bourseʼs mid-cap BUMIX finished 0.29% lower at 1,755.28.

Elsewhere in the region, the WIG-20 in Warsaw dropped 0.60% while Pragueʼs PX index gained 1.23%.

Western Europeʼs major indices were down before the end of trading. The FTSE100 in London lost 0.29%, the DAX30 in Frankfurt was down by 0.35% and the CAC40 in Paris dropped 0.37%.

For the week, the BUX index gained 2.37% as OTP rose 3.87% MOL climbed 0.73% Magyar Telekom advanced 0.64% and Richter was up. Total turnover for the week rose to HUF 53.3 bln from HUF 38.6 bln in the previous week.

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