BUX Index Rose on Falling Turnover This Week

The Budapest Stock Exchange's (BSE) share index, the BUX, rose by 493.43 points, or 0.75%, to end the week at 66,263.18 points, compared to the previous Friday's close.

Total turnover fell from HUF 49.619 billion to HUF 48.912 billion on a weekly basis, with leading stocks performing mixed.

In its weekly summary, Equilor Investment Plc. summarized the quick reports of BSE-listed companies, saying that Magyar Telekom reported better-than-expected revenue and net profit in its fourth quarter financial report. The company's board of directors has proposed a dividend payment of HUF 44.70 per share for the 2023 financial year, while the company's treasury share buyback may amount to HUF 24 billion. For 2024, the company expects adjusted net profit of HUF 130 billion, an annual increase of 38.9% compared to last year.

Graphisoft Park reported record earnings in its last quarterly report published on Thursday evening and proposed a dividend of 70 euro cents. The company's management did not change its outlook for 2024, expecting weaker occupancy and slower rental growth.

Rába also published its quarterly figures this week. Due to rising costs and weakening demand, the Győr-based vehicle maker accumulated an operating loss of HUF 0.6 billion and a loss after tax of HUF 0.5 billion in the fourth quarter, on revenue of HUF 17 billion.

The best performing stock on the Budapest Stock Exchange last week was Magyar Telekom. The telecom company's shares ended the week up HUF 63, or 8.18%, with a closing price of HUF 833 and a turnover of HUF 4.454 billion.

OTP shares rose by HUF 175, up 1.02% to HUF 17,400, with a weekly turnover of HUF 28.514 billion.

Richter closed at HUF 9,725, down 20 forints or 0.21%, with a total turnover of HUF 7.804 billion.

Mol weakened by HUF 28, or 0.95%, to close Friday at HUF 2,932 with a weekly turnover of HUF 5.867 billion.

The BUMIX index of small and medium-sized shares gained 82.09 points, 1.46%, to close at 5717.61 points on Friday.