BUX up in line with Europe

Telco

The Budapest Stock Exchange's main BUX index finished up 1.00% at 17,894.33 Friday, after falling 1.35% Thursday. It is down 3.61% from the end of last year, after it rose 2.15% in 2013. The Budapest parquet, in line with European peers, made partly up for the previous day's plunge. Thin volumes, however, showed that buying is still the sport of the brave.

A smooth start to tendering next week for new EU funds available in the 2014-2020 EU budget period, as announced Friday by Hungary's economy minister, also improved sentiment.

Fresh data, however, confirmed expectations for some economic slowdown and meager profit outlooks in the second half of the year.

After falls since April, retail trade showed anaemic rise in the holiday month of August, but annual growth remained deep under readings earlier in the year. Industrial producer prices kept above the waterline in August, but their annual fall accelerated.

► OTP gained 1.99% to HUF 4,110 on turnover of HUF 1.41 bln from a HUF 2.72 bln session total, less than one-third of the daily average this year.
► MOL recaptured 1.06% to HUF 11,940 on turnover of HUF 595 mln.
► Magyar Telekom added 0.55% to HUF 365 on turnover of HUF 246 mln.
► Richter advanced 0.13% to HUF 3,955 on turnover of HUF 278 mln.
► The bourse's mid-cap BUMIX went out 0.11% lower at 1,506.35.

For the week, the BUX won 1.56% after falling 4.31% the previous week.
► OTP rose 3.03% after diving 9.44% last week.
► MOL eased less than 0.01% after shedding 3.38% the previous week.
► Magyar Telekom gathered 3.40% after advancing 0.57% last week.
► Richter strengthened 1.25% after falling 1.86% over the previous week.

Elsewhere in the region, Warsaw's WIG20 was up 0.58%, while Prague's PX increased 0.26%. Western Europe's major indices were up ahead of their close Friday, FTSE-100 in London 1.27%, and CAC40 in Paris 0.98%. Frankfurt was closed for the reunification national holiday.

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