BUX slumps on diminishing hopes for outcome of EU summit

Telco

The Budapest Stock Exchange's main BUX index fell 2.66% to 17,364.63 on Wednesday, dragged down by OTP Bank and MOL, as European shares turned negative in the afternoon on diminishing expectations for the outcome of the EU debt-crisis summit.

OTP Bank lost 3.40% to HUF 3,439 on turnover of HUF 9.85bn, oil and gas company MOL dipped 4.52% to HUF 16,805 on turnover of HUF 2.27bn, drug maker Richter fell 1.90% to HUF 35,295 on turnover of HUF 0.24bn and Magyar Telekom rose 1.16% to HUF 523 on turnover of HUF 0.43bn.

Share turnover amounted to HUF 13.1bn for the session.

The bourse's mid-cap BUMIX index fell 1.00% to 1,377.42.

Major Western European share indices were all down late Wednesday, with London's FTSE falling 0.46%, Frankfurt's DAX losing 1.53% and the CAC-40 in Paris dropping 0.44%.

Elsewhere in the CEE region, Warsaw's WIG-20 fell 0.55% and Prague's PX-50 rose 0.80%.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.