BUX Index Rose on Rising Turnover This Week

The stock index of the Budapest Stock Exchange (BSE) rose this week, with the BUX 50 closing at 505.73 points on Friday, 0.2% higher than a week earlier, MTI reported Sunday morning along with a brief analysis of the week’s trading.

Weekly turnover on the stock market was HUF 35.325 billion, up from HUF 32.212 billion the previous week, with leading shares performing mixed.

On Monday, the stock market declined on unfavorable international sentiment and underperformed on a European basis. International sentiment was affected by a particularly weak macroeconomic data from Germany, as the ifo index came in much weaker than expected. The German economic outlook has deteriorated markedly in the past 1-2 months.

On Tuesday, the leading shares, with the exception of OTP, weakened, with the market closing with a moderate decline.

On Wednesday, the stock market rose on the back of a positive international sentiment, the same was true for European stock markets. Markets were reassured by news from a central bank conference in Portugal that European policymakers do not fear a downturn, with recession fears significantly reduced despite economic difficulties.

Trading was directionless on the Hungarian stock market on Thursday with low volumes. Friday saw another decline at the close. The Budapest stock exchange was an underperformer, while Western European stock markets rose by over one percent. Reasons for optimism were better than expected inflation data in Europe and better than expected inflation data in the US. The Warsaw stock index was also in the red, as was Budapest. There was no specific news and a sense of disinterest prevailed.

OTP was the biggest gainer among the leading stocks this week, up 0.87%, closing at HUF 12,130 on Friday, on weekly turnover of HUF 18.33 billion.

Richter weakened by 0.41% this week, closing Friday at HUF 8,420, with a weekly turnover of HUF 6.2 billion.

Mol weakened by 0.99%, with a weekly turnover of HUF 7.5 billion, closing the last trading day of the week at HUF 2,988.

Magyar Telekom fell 0.25% this week, closing at HUF 404.5 on Friday with a weekly turnover of HUF 453.17 million.

The BUMIX index of small and medium-sized shares closed the week at 3,619.88 points, up 118.56 points or 3.39% on the previous week.