BUX Up Amid Declining Trading Volumes This Week

The Budapest Stock Exchange (BÉT) share index, BUX, strengthened amid declining turnover this week, closing at 462.96 points on Friday, up 1,255.17 points, or 1.27%, from a week earlier.

Weekly turnover was HUF 52.73 billion, following HUF 66.48 billion the previous week, with leading shares strengthening except for OTP.

Equilor Investment Ltd. highlighted in its weekly summary sent to MTI that the Mol Group had signed agreements to resume international crude oil exports from the Kurdistan region of Iraq. Based on the agreements, Mol expects the oil pipeline from the region to the Turkish port city of Ceyhan, which has been closed to exports since spring 2023, to reopen in the coming days.

The US Food and Drug Administration (FDA) has approved Richter's biosimilar product containing the active ingredient denosumab, which will be marketed jointly with Hikma Pharmaceuticals under the names Enoby and Xtrenbo. Under the agreement between Hikma and Richter, Richter is responsible for product development and manufacturing, while Hikma is responsible for FDA registration and exclusive commercial distribution in the United States.

Equilor recalled that OPUS GLOBAL had published a flash report in connection with the week's events. During the first half of the year, the company's revenue fell to HUF 246 billion from HUF 301 billion in the same period last year, but profitability improved significantly, with half-year EBITDA rising to HUF 54 billion from HUF 48 billion a year earlier. Profit after tax was HUF 21 billion, an increase of nearly 3% compared to the same period last year.

4iG Space and Defense Ltd. has entered into a non-binding letter of intent with Axiom Space Inc. regarding several joint potential projects. 4iG SDT plans to invest USD 100 million and also intends to participate as a cooperating partner in Axiom Space's Earth-orbiting data center services program, according to the summary.

Among the leading stocks this week, Richter's share price rose 4.09%, closing at HUF 10,170 on Friday, with a weekly turnover of more than HUF 7.65 billion.
Magyar Telekom strengthened by 2.09%, closing at 1,852 forints on Friday, with weekly turnover exceeding 2.87 billion forints.
Mol's share price rose by 1.09% during the week, closing at HUF 2,770 on Friday, with weekly turnover of HUF 4.99 billion.
OTP weakened minimally, by 0.03%, closing at HUF 29,080 on Friday, with weekly turnover reaching HUF 33.47 billion.

The BUMIX index of small and medium-sized shares closed at 9401.70 points on Friday, up 167.19 points, or 1.81%, from the previous week.