Budapest Stock Exchange Index Down This Week

The Budapest Stock Exchange (BSE) share index (BUX) fell on rising turnover this week, while the BUX 50 closed at 237.20 points on Friday, down 3.65% on a week ago at 1,904.38 points, the state news agency MTI reported this Sunday.

Turnover on the stock market was HUF 66.5 billion, down from HUF 54.1 billion last week, with leading shares weakening.

In a summary sent to MTI, Equilor Investment Plc. said the BUX index was quite choppy this week in the shadow of the Russian-Ukrainian tension, with news of the conflict having a significant impact on international investor sentiment.

The analysis recalled that among the important events of the week, Mol published its fourth quarter flash report at dawn on Friday. The company exceeded analyst expectations on all major earnings lines, with the exception of profit after tax. All divisions reported better-than-expected numbers, with Mol exceeding its increased EBITDA target for 2021 by 10% and forecasting an ambitious EBITDA of USD 2.8 billion for 2022, they said.

OTP received a target increase, with analysts at HSBC raising their previous target price of HUF 22,000 to HUF 23,500, with a buy recommendation on the bank's stock still in place, Equilor reported.

It was OTP's share price that fell the most this week, by 6.74%, ending Friday's trading at HUF 16,600, with a weekly turnover of more than HUF 48.1 billion.