The Budapest Stock Exchange’s (BBSE) stock index, the BUX, closed the week at 148,632.55 points, up 1.33% from previous Friday’s close. Total trading volume fell from HUF 120.5 billion to HUF 108.5 billion on a week-over-week basis, while leading stocks – with the exception of Magyar Telekom – gained ground.
In its weekly summary, Equilor Investment Ltd. highlighted among the weekly events influencing stock market trading that OTP received a target price upgrade; however, based on the flash report released this week, the company’s second-quarter performance fell short of expectations.
Mol also saw its target price raised this week, and its report, released early Friday morning, exceeded forecasts. The other two leading issuers also published their second-quarter results; based on these, Richter performed well, while Magyar Telekom’s report came as no surprise to investors.
Buoyed by favorable international sentiment, the BSE stock index closed at a historic high as early as Monday, while analysts prepared for the reports due out this week. On Tuesday, the BUX set another record, but trading ended with a decline on Wednesday.
The decline may have been caused by OTP’s second-quarter flash report falling short of forecasts, while Mol was unable to gain ground due to the drop in global oil prices. The decline continued on Thursday, but on Friday, thanks to favorable international sentiment and Mol’s better-than-expected report, the BUX ended the week on an uptrend.
Among the leading stocks, Richter posted the strongest gain for the week, with its share price rising 4.41% from last week’s close to reach HUF 12,320, on total trading volume of HUF 15.2 billion.
Mol rose 2.65% to close at HUF 4,650 on Friday, with weekly trading volume of HUF 21.4 billion.
OTP ended the week at HUF 46,890, up 0.15%, with trading volume approaching HUF 64 billion.
Magyar Telekom fell 1.82% to HUF 2,696, with weekly trading volume exceeding HUF 4.2 billion. The BUMIX index, which tracks small- and mid-cap stocks, rose 2.30% to close at 9,650.69 points on Friday.
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