BUX Index Level Hits Another Record High

The Budapest Stock Exchange's (BSE) share index, the BUX, closed at 62,804.52 points on Wednesday, up 882.9 points or 1.43%, the second all-time high this week, MTI reported Wednesday afternoon.

Turnover on the stock market was HUF 20.5 billion, with the leading shares performing mixed compared to the previous day's close.

According to Zoltán Árokszállási, an analyst at Equilor Investment, trading was exceptionally good, mainly due to the strength of OTP. The price of bank stocks may have risen significantly because the issuer's shares are still undervalued relative to its results, with similar stocks in Europe trading at much higher prices. Another winner in Wednesday's trading, Magyar Telekom, probably owes its popularity to a recent target increase. Some analysts had already valued its shares at around HUF 900 forints last year, and this level does not seem unattainable in the longer term, he added.

Mol's share price fell by HUF 18 forints, or 0.64%, to HUF 2,814, on turnover of HUF 3.0 billion.

OTP shares gained HUF 520, or 3.21%, to HUF 16 700, with a turnover of HUF 14.0 billion.

Magyar Telekom's share price rose by HUF 35, or 5.12%, to HUF 718, with a turnover of HUF 1.4 billion.

The price of Richter shares fell by HUF 20, or 0.22%, to HUF 9,095, with a turnover of HUF 1.2 billion.

The BUMIX index of small and medium-sized shares closed at 5,446.69 points on Wednesday, up 21.55 points, or 0.4%, from Tuesday's close.