BUX ekes out gain on late rally
The Budapest Stock Exchange’s BUX index closed Thursday trade up 0.13% to 16,216.33 as an alleviation of fears with regard to debt crises in Greece and Italy propelled the BSE blue-chip into positive territory just before closing bell.
The BUX gained 20.71 points on a composite exchange turnover of HUF 23.21bn after Greece selected European Central Bank Vice President Lucas Papademos to serve as the country’s new prime minister and Italian ten-year bonds yields fell below 7%, widely regarded as the limit that an economy can bear without defaulting. The BUX fluctuated in a 4.15% range between an intra-session low of 15,849.86 at 9:15 a.m. and an intra-session high of 16,508.42 at 3:00 p.m.
BSE blue-chips stood as follows at Thursday’s closing bell:
Oil and gas company MOL gained 2.58% to HUF 16,100 on a turnover of HUF 2.75bn;
Magyar Telekom advanced 2.00% to HUF 510 on a turnover of HUF 936m;
Drug company Richter gained 0.56% to HUF 35,800 on a turnover of HUF 1.59bn;
OTP lost 4.01% to HUF 2,870 on an immense, exchange-high turnover of HUF 17.37bn.
The BSE Big Four generated 97.6% of the exchange’s composite Thursday turnover.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.