BUX Index Fell on Falling Turnover This Week

The Budapest Stock Exchange (BSE) share index fell on a downward trend this week, with the BUX closing at 44,182.00 points on Friday, 3.54% lower than a week earlier, the state news agency MTI reported, along with a brief analysis, on Sunday morning.

The weekly turnover of the stock market was HUF 49.02 billion, down from HUF 71.29 billion the previous week, with the leading stocks weakening, with the exception of Richter.

In its weekly summary sent to MTI, Equilor Investment Plc. stressed that the BUX index closed the week in significant minus.

Among the events of the week, the elimination of the fuel cap was highlighted. They recalled that according to the oil and gas company Mol, the HUF 480 forint per liter price cap could not be maintained due to the lack of imports and increased consumption.

Equilor also pointed out that the extra profit tax payable by Mol had been increased from 40% to 95% of the profit resulting from the difference between the price of Brent and Ural oil, and that the money collected would be channeled into the fuel protection fund, according to the government.

Among the leading stocks, only Richter's share price rose this week, with the pharmaceuticals stock gaining 4.14% on a turnover of HUF 7.87 billion, ending trading at HUF 8,800 on Friday.

Mol weakened by 8.58% this week, closing at HUF 2,600 on Friday with a weekly turnover of HUF 11.92 billion.

OTP fell by 5.62%, with a weekly turnover of HUF 27.73 billion, closing Friday at HUF 10,000.

Magyar Telekom weakened by 0.15%, ending Friday's trading at HUF 324.5, with a weekly turnover of HUF 368.7 million.

The BUMIX index of small and medium shares, the weekly index, ended the week at 3,623.85 points, down 42.92 points, 1.17% lower than the previous week.