BUX Index Fell on Moderate Turnover This Week

The Budapest Stock Exchange's (BSE) share index, the BUX, fell by 307.33 points, or 0.47%, this week compared to last Friday, ending the week at 64,982.98 points, MTI reported this Sunday.

Total turnover fell from HUF 70.775 billion to HUF 37.747 billion on a weekly basis, with the leading shares, with the exception of Richter, weakening.

Trading was choppy throughout the week with no major fluctuations. The BUX started with a decline due to the unfavorable international sentiment and turnover was also low on Monday. The following day the decline was followed by a slight rise, but the stock market closed down again on Wednesday. Equity indices fell across Europe, with the outlook for the domestic market also hurt by the recent infringement proceedings. On Thursday, the BUX rose again slightly on low volume, and then rose slightly more on Friday, but despite closing higher, it was unable to offset the previous days' falls until the close.

According to a summary by Equilor Investment Plc, further target increases could help trading going forward. Magyar Telekom received two positive ratings this week, one of which set the company's target price above HUF 1,000. This year, the company has already had a recommendation above HUF 1,100.

This week, Richter closed at HUF 9,835, up HUF 170, or 1.76%, on a total turnover of HUF 6.837 billion.

Mol weakened by HUF 28, or 0.96%, to close Friday at HUF 2,900 with a weekly turnover of HUF 4.019 billion.

OTP shares lost HUF 215, 1.26%, to HUF 16,850, with total turnover of HUF 22.744 billion.

Magyar Telekom ended the week at HUF 765, down HUF 12 or 1.54%, with a turnover of HUF 1.733 billion.

The BUMIX index of small and medium-sized shares closed Friday down 3.33 points, 0.06%, at 5,658.15 points.