Hungarian Stock Exchange Ends the Week with Losses

Amid declining trading volume, the Budapest Stock Exchange (BSE) stock index, the BUX, closed at 142,048.59 points on Thursday during the four-day trading week, down 3,422.53 points, or 2.35%, from the previous week.

Weekly trading volume totaled HUF 104.67 billion, down from HUF 146.78 billion the previous week, with leading stocks – with the exception of Richter – declining. In its weekly summary, Equilor Investment Ltd. highlighted that 4iG Informatikai Plc., a subsidiary of 4iG, signed a service contract worth EUR 54.25 million with Montenegro’s Ministry of Public Works. The agreement covers the implementation of a digitization and technology program for the country’s law enforcement and border control agencies.

Several leading stocks saw changes to their target prices this week. On Monday, HSBC raised its 12-month target price for Mol from HUF 5,400 to HUF 5,800. Autonomous Research raised its target price for OTP from HUF 57,143 to HUF 57,921. Trigon Dom Maklerski cut OTP’s target price from HUF 51,714 to HUF 49,753 while maintaining a “buy” recommendation; however, it raised Richter’s target price from HUF 13,171 to HUF 13,474 with a “hold” recommendation.

Among the leading stocks this week, Richter’s share price rose 5.61%, closing at HUF 13,170 on Thursday, with weekly trading volume exceeding HUF 10.8 billion.

OTP’s share price fell 4.9% this week, closing at HUF 40,350 on Thursday, with weekly trading volume totaling HUF 74.5 billion.

Mol’s share price declined by 5.02 % during the week; the oil company’s stock closed at HUF 4,820 on Thursday, with weekly trading volume exceeding HUF 14.8 billion.

Magyar Telekom’s share price fell by 0.22% during the week; the stock closed at HUF 2,686 on Thursday, with weekly trading volume totaling HUF 3.1 billion.

The BUMIX index, which tracks small- and mid-cap stocks, fell by 0.52% or 45.88 points, closing at 8,720.59 points on Thursday.