Budapest Stock Exchange Stock Index Up This Week

The stock index (BUX) of the Budapest Stock Exchange (BSE) rose on the week, closing at 55,099.88 points on Friday, up 1.66% on a week ago, or 902.17 points. Turnover on the stock market was HUF 52.6 billion, up from HUF 48.5 billion last week, with leading shares gaining.

In its weekly summary sent to the state news agency MTI, Equilor Investment Plc. highlighted that the BUX also set a record in the four-day week. The Hungarian fast report season kicked off this week, and thanks to optimistic expectations, the Hungarian stock index was already above 56,000 points on Thursday.

Equilor recalled that Mol published its third-quarter flash report at dawn on Friday. The group exceeded analysts' expectations on all major earnings lines, with all divisions reporting better results than expected. The company achieved more than 86% of its 2021 annual EBITDA forecast in the first nine months, prompting management to raise its target from USD 3 billion to USD 3.2 billion.

OTP also reported on Friday. Third-quarter revenues grew ahead of expectations, while rising risk costs drove the earnings line slightly below expectations. A slight deterioration in net interest margin was negative in the quarter, especially given the rising interest rate environment, the analysis summarized.

The weekly summary also indicated that Richter will continue on Monday and Magyar Telekom on Tuesday with a quick report.

They pointed out that there is a growing chance that Vraylar, a drug containing the active ingredient cariprazine, could receive approval as an adjunctive treatment for major depression in the US, which would represent huge potential for Richter.

The biggest gain this week, 3.61%, was achieved by Mol, which closed at HUF 2,756 on Friday, with a weekly turnover of more than HUF 8.9 billion.