BUX Index Strengthened This Week on Rising Turnover

The stock index of the Budapest Stock Exchange (BSE) strengthened this week, with a significant increase in turnover. The BUX closed at 51,854.65 points on Friday, 3.93% higher than a week earlier, MTI reported this Sunday, along with an analysis of the week’s trading.

The weekly turnover of the stock market was HUF 49.09 billion, up from HUF 32.04 billion the previous week, with all the leading stocks gaining.

In its weekly summary sent to MTI, Equilor Investment Plc. said that the domestic stock market performed well this week after the previous week's decline, thanks to the favorable international investor sentiment.

Mol broke through an important resistance in Wednesday's trading and Magyar Telekom on Friday. Citi raised its 12-month target price for OTP from HUF 11,625 to HUF 13,365, maintaining its buy recommendation.

Among the leading stocks, Richter gained the most this week, up 5.42%, closing at HUF 8,750 on Friday on weekly turnover of HUF 9.612 billion.

OTP gained 4.15% this week, closing at HUF 12,290 on Friday, with a weekly turnover of over HUF 26.620 billion.

Mol rose by 3.06% this week, closing Friday at HUF 3,096, with a weekly turnover of HUF 10.980 billion.

Magyar Telekom closed at HUF 420.0 on Friday, 1.57% higher than a week earlier, with weekly turnover of HUF 554.8 million.

The BUMIX index of small and medium-sized shares closed the week at 3,658.47 points, up 61.02 points, 1.70% from last Friday.