BUX Index Fell This Week on Rising Turnover

The Budapest Stock Exchange's (BSE) share index, the BUX, fell by 519.20 points, or 0.90%, compared with the previous week's close, to 57,010.75 points, MTI reported Sunday morning along with a brief analysis.

Total turnover rose from HUF 34.774 billion to HUF 35.452 billion.

Despite the positive international investor sentiment, the BUX's rise stalled at the 58,000-point level, then turned down from there and closed the week in negative territory, Equilor Investment Plc. said in a weekly summary sent to MTI.

All four leading shares on the BSE received price target adjustments in the week following the third quarter flash reports, Equilor analyst Zoltán Varga wrote.

OTP's 12-month target price was raised from HUF 18,500 to HUF 18,800 by Morgan Stanley, with an overweight recommendation.

Santander raised its target price on Mol from HUF 2,900 to HUF 3,200 with a neutral recommendation, while Raiffeisen cut its oil stock forecast from HUF 2,700 to HUF 2,500 with a sell recommendation.

RBC Capital lowered its target price on Richter from HUF 12,600 to HUF 12,000 with an overperform recommendation, while Raiffeisen raised its forecast on Magyar Telekom from HUF 575 to HUF 820 with a buy recommendation.

Among the leading stocks, Richter's share price fell the most this week. Its share price weakened by 2.35% to HUF 8,730 in weekly turnover of HUF 6.360 billion.

Mol's share price fell by 1.13%, or HUF 32, compared to last week's close, closing at HUF 2,812 on Friday, with weekly turnover of around HUF 4.9 billion.

OTP's share price fell by 0.47%, or HUF 65, to HUF 13,880, with a turnover of HUF 18.968 billion.

Magyar Telekom was the only blue chip to close in positive territory. The share price strengthened by 0.33%, or HUF 2.0, to HUF 608.

The BUMIX index of small and medium sized shares ended the week up 1.42% at 70.68 points, ending the week at 5,058.3 points.