BUX Declines Amid Rising Turnover This Week

The Budapest Stock Exchange (BÉT) share index declined amid rising turnover this week, with the BUX closing at 100,198.56 points on Friday, down 1,001.28 points, or 0.99%, from a week earlier.

Weekly turnover was HUF 101.33 billion, following HUF 81.41 billion the previous week, with leading shares weakening, except for OTP.

On Monday, investors began to take profits, and on Tuesday, the BUX fell due to the deterioration of the international mood, closing in negative territory on Wednesday along with regional indices. On Thursday, the BSE share index rose thanks to OTP's halt in decline, and on Friday, bank stocks also pulled the BUX up.

Equilor Investment Plc. announced in its weekly summary that the BSE had published the index changes. From October 1, Delta Technologies shares will be removed from the BUX index, while CIG Pannónia received its first warning and will therefore remain an index member. Zwack shares will return to the BUX index.

OTP continued to buy back its own shares, purchasing 56,519 shares on Monday, 55,958 shares on Tuesday, 41,194 shares on Wednesday, and 60,941 shares on Thursday.

Mol shares saw a significant target price reduction: Oddo BHF cut its 12-month target price for Mol from HUF 2,850 to HUF 2,300, with the recommendation remaining underweight.

The analyst noted that Scope Ratings had affirmed Magyar Telekom's BBB+ credit rating with a stable outlook. This reflects Magyar Telekom's strong and stable position in the Hungarian mobile and fixed-line internet markets, as well as its continued favorable business and financial risk profile.

Appeninn's first-half report was also discussed, which, according to Equilor Investment Plc., shows mixed results. The company's rental income fell to EUR 10,797 million from EUR 11,815 million in the previous year, mainly due to the departure of a major Polish tenant in March.

Among the leading stocks, only OTP rose by 0.72% this week, closing at HUF 29,410 on Friday, with a weekly turnover of more than HUF 61.34 billion.

Magyar Telekom's share price fell by 1.07%, closing at HUF 1,848 on Friday, with a weekly turnover of HUF 3.37 billion.

Mol fell by 2.74% during the week, with the share closing at HUF 2,772 on Friday, with a weekly turnover of HUF 10.42 billion.

Richter's share price fell by 3.83%, closing at HUF 9,790 on Friday, with weekly turnover exceeding HUF 15.2 billion.