BUX loses 2.1% on S&P euro-zone credit watch

Telco

The Budapest Stock Exchange’s blue-chip BUX index closed Tuesday trade down 2.10% to 17,372.45 as an announcement from Standard and Poor’s that it had placed 15 euro-zone members, including Germany and France, on credit watch for possible downgrade dampened sentiment among BSE investors.

The BUX lost 373.29 points on a composite exchange turnover of HUF 12.39bn, fluctuating in a 2.34% range between an intra-session high of 17,694.22 at 9:40 a.m. and an intra-session low of 17,279.97 at 2:50 p.m.

BSE blue-chips stood as follows at Tuesday’s closing bell:

Oil and gas company MOL lost 3.74% to HUF 18,000 on a turnover of HUF 3.38bn;

OTP Bank declined 3.45% to HUF 3,270 on an exchange-high turnover of HUF 7.77bn;

Magyar Telekom finished flat at HUF 522 on a turnover of HUF 531m;

Drug company Richter gained 0.84% to HUF 34,390 on a turnover of HUF 443m.

The BSE Big Four generated 97.9% of the exchange’s composite Tuesday turnover.

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