BUX rises after two days of loss

Telco

BUX REPORT

The Budapest Stock Exchange's main BUX index closed up 0.65% at 17,825.15 on Thursday. The rise came after two days of drops, triggered by the IMF autumn report released on Tuesday, forecasting bleak economic prospects. Only OTP Bank, of the four Hungarian blue chips, fell further.

The BUX outpaced European indices which rose in the morning on the prospect that no U.S. interest rate rise was imminent and good quarterly reports from the U.S. but lost momentum later on data from Germany that showed the sharpest export decline since the crisis.

After early gains following a steep 3% drop on Wednesday, OTP Bank ended the session 0.32% down at HUF 4,012 on turnover of HUF 2.98 bln or more than half of the HUF 5.24 bln session total. Oil and gas company MOL rose 1.43% to HUF 12,070, making up for its Wednesday loss, on turnover of HUF 888 mln. Magyar Telekom gained 0.28%, just what it lost on Wednesday, to HUF 355 on turnover of HUF 436 mln. Drugmaker Richter rose 1.18% to HUF 4,025 on turnover of HUF 166 mln.

The bourse's mid-cap BUMIX index rose 0.46% to 1,499.55.

Elsewhere in the region, Warsaw's WIG20 was up 0.63% and the Prague PX rose 0.19%.

After early gains Western Europe's biggest indices were mixed late in the day, London's FTSE 100 down 0.63%, the Paris CAC40 losing 0.40% while the Frankfurt DAX was up 0.37%.

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