BUX down as MOL plummets

Telco

The Budapest Stock Exchangeʼs main BUX index finished down 2.10% at 26,521.19 Tuesday after gaining 0.29% on Monday, Hungarian news agency MTI reported.

Apart from the first few minutes of trade the BUX index was below the break-even mark during the entire day. Moments before the end of trade stock prices began to drop steeply and the BUX finished lower, behind its Western European peers.

The share price of all of the four blue-chips decreased, with MOL seeing the biggest losses. MOL started to trade without its dividend coupon on Tuesday, and was already down in the morning before falling even further during the afternoon.

In Western Europe stocks fell for the first time in six days as oil shares declined and Volkswagen AG led automakers lower. Investors are waiting for the European Central Bankʼs meeting on Thursday.

OTP lost 1.93% to HUF 6,811 on turnover of HUF 5.79 bln from a HUF 20.75 bln session total.

MOL was down 5.86% at HUF 15,500 on turnover of HUF 6.98 bln. 

Magyar Telekom dropped 1.31% to HUF 452 on turnover of HUF 366m. 

Richter lost 2.50% to HUF 5,650 on turnover of HUF 7.53 bln.

The bourseʼs mid-cap BUMIX finished 0.10% lower at 1,767.34.

Elsewhere in the region, the WIG-20 in Warsaw was down 1.82% while Pragueʼs PX index was up 0.12%.

Western Europeʼs major indices were down before the end of trading. The FTSE100 in London lost 0.65%, the DAX30 in Frankfurt was down by 0.82%, and the CAC40 in Paris was down by 0.68%.

International oil prices rose as the per barrel price of Brent increased by 0.44% to USD 50.58 and the per barrel price of WTI gained 1.03% to USD 49.84.

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