BUX Index Fell on Rising Turnover This Week

The Budapest Stock Exchange (BSE) share index fell in the week, closing at 45,396.33 points on Friday, down 2.68% or 1,249.08 points from a week earlier.

The weekly turnover of the stock market was HUF 55.39 billion, up from HUF 38.95 billion the previous week, with the leading stocks ending the week lower, except for Magyar Telekom.

In its weekly summary sent to MTI, Equilor Investment Plc. pointed out that the BUX index ended the week with a significant loss.

They recall that OTP was downgraded by Standard & Poor's this week. The rating agency downgraded the long-term and short-term debt ratings of OTP Bank Plc. and OTP Mortgage Bank Plc. by one notch. The outlook for the long-term debt ratings is stable.

In the summary, it was mentioned that the Croatian state will pay USD 235 million to Mol. The amount determined by the international arbitration tribunal will be paid in the next period. Mol went to court in 2013 to defend its investments in Croatia, claiming that the Croatian state had failed to meet its contractual obligations. The conflict concerns the oil company INA, which is 49.08% owned by Mol and 44.84% by the Croatian state.

Duna House has increased its stake in Italian Hgroup S.p.a. by 16.85%, bringing its ownership to 93.98%, Equilor said.

Among the leading stocks this week, Mol's share price fell 1.72%, closing at HUF 2,740 on Friday, with a weekly turnover of HUF 6.6 billion.

Richter's share price fell by 1.70%, closing Friday at HUF 8,100, with a weekly turnover of more than HUF 12.8.

OTP's share price fell by 4.67% this week, closing Friday at HUF 10,725, with a weekly turnover of HUF 34 billion.

Magyar Telekom rose 1.62% this week, closing Friday at HUF 376, with a weekly turnover of HUF 975 million.

The BUMIX index of small and medium-sized shares closed the week at 3,644.03 points, down 22.27 points or 0.61% on the previous week.