Another Historic High at the Stock Exchange This Week

Amid growing turnover, the Budapest Stock Exchange (BSE) share index rose this week, closing at a historic high of 122,311.20 points on Friday, up 4.98% from a week earlier.

As MTI reports, weekly turnover was HUF 108.16 billion, following HUF 103.08 billion the previous week, with leading shares strengthening during the week. On Friday, OTP closed at a new historic high alongside the BUX.

In its weekly summary sent to MTI, Equilor Investment Ltd. highlighted that the BUX index reached a new record high again this week, with all leading shares strengthening significantly, with Mol standing out from the field.

The commentary recalled that Mol could sign an agreement within days to purchase the Russian stake in the Serbian oil company NIS. The aim of the transaction is to optimize the region's energy supply through the integrated operation of the refineries in Bratislava, Százhalombatta, and Pancsova, which is also expected to have a positive impact on energy prices.

OTP shares have received a target price increase. Goldman Sachs raised its 12-month target price for OTP Bank from HUF 36,700 to HUF 42,000, with the recommendation remaining unchanged at "buy". Of the 17 analysts covering OTP, 12 recommend buying, 3 recommend holding, and 2 recommend selling the stock, with a median target price of HUF 35,750, according to Equilor.

Among the events of the week, Opus announced the details of its share buyback auction. The company plans to buy back its own shares for a total value of at least HUF 1 billion. The repurchase price per share may not exceed HUF 710, and the price may not be higher than 120% of the previous trading day's closing price. Only shareholders offering a block of shares worth at least HUF 50 million may participate in the transaction.

Equilor also noted that PannErgy sold a record amount of heat in the fourth quarter of last year. As a result of the favorable production data, management revised its EBITDA forecast for 2025 upward to a range of HUF 4,150-4,200 million, while for 2026 it expects a result of HUF 4,300-4,450 million. The growth was primarily due to the Miskolc Geothermal Project.

Among the leading stocks, Mol strengthened the most this week, by 10.38%, closing at HUF 3,532 on Friday, with a weekly turnover of HUF 26.6 billion.

OTP's share price rose by 5.17% during the week, closing at HUF 38,480 on Friday, a new historic high, with weekly turnover of more than HUF 63.17 billion.

Magyar Telekom's share price rose by 3.11% during the week, closing at HUF 1,920 on Friday, with weekly turnover exceeding HUF 3.79 billion.

Richter's share price rose by 1.85% during the week, closing at HUF 10,470 on Friday, with weekly turnover exceeding HUF 9.11 billion.

The BUMIX index of small and medium-sized shares closed at 10,404.50 points on Friday, up 105.36 points, or 1.02%, from the previous week.