BUX Index Rising on Falling Turnover

The Budapest Stock Exchange (BSE) share index, the BUX, closed Friday at 46,587.39 points, up 1.18% or 543.36 points, MTI reported Sunday morning along with a brief analysis of the weeks trading.

The turnover of the stock market fell from HUF 39.022 billion to HUF 32.078 billion in a week, with the leading shares, except for Richter, gaining.

The BUX started the week with a slight decline, but then Western stock markets closed the week in a similar fashion. On Wednesday, the share index was up just 0.02%, with a bigger change only on Thursday, when it rose 1.12%, above the regional average, thanks to an improvement in international sentiment. The momentum continued into the final trading day of the week, as Mihály Varga promised to end the special tax on banks by 2024. Balázs Sághy, an analyst at Equilor Investment Plc., said the finance minister's announcement was the reason why both OTP's share price and turnover rose significantly by Friday's close.   

Compared to the previous week, OTP achieved the biggest increase of 4.05% to HUF 440. Its share price reached HUF 11,300 and its turnover HUF 14.866 billion.

Mol rose by 1.24 % to HUF 34, ending the week at HUF 2,782 with a turnover of HUF 7.332 billion.

Magyar Telekom rose by 1.19%, or HUF 5, to close at HUF 426 on Friday, with a total turnover of HUF 1.552 billion.

Richter shares weakened to HUF 8,095, losing 2.53%, or HUF 210, on turnover of slightly more than HUF 7 billion.

The BUMIX index of small and medium-sized shares lost 22.4 points, 0.66% in a week, closing Friday at 3,347.72 points.