BUX Index Rose on Rising Turnover This Week

The Budapest Stock Exchange's (BSE) share index, the BUX, rose by 786.77 points, or 1.21%, to end the week at 65,769.75 points, compared to last Friday's close, MTI reported Sunday morning along with a brief analysis of the week’s trading,

Total turnover rose from HUF 37.747 billion to HUF 49.618 billion on a weekly basis, with the leading stocks, with the exception of Richter, gaining.

In its weekly summary on OTP, Equilor Investment Plc. highlighted that the Hungarian financial institution is exiting the Romanian market after selling its Romanian stake to Banca Transilvania for EUR 347.5 million, while the transaction could lead to a write-down of HUF 59.5 billion in the fourth quarter.

They added that according to unconfirmed press reports, OTP is interested in the Ukrainian state-owned Sense Bank, purchase price could range between HUF 57 billion and HUF 115 billion.

Earlier this week, OTP announced that, subject to central bank approval, it could buy back its own shares for HUF 60 billion by the end of 2024.

On the final day of the week, Mol reported fourth quarter results that beat analyst expectations, with the oil company nearly doubling analyst consensus on net profit. Management expects 2024 EBITDA (earnings before interest, tax, depreciation and amortization) of USD 3 billion and net income of USD 1.6 billion.

During the week, Richter closed at HUF 90, down 0.92% at HUF 9,745 on total sales of HUF 5.836 billion.

Mol strengthened by HUF 60, 2.07%, to close Friday at HUF 2,960 with a weekly turnover of HUF 7.686 billion.

OTP shares rose by HUF 375, or 2.23%, to HUF 17,225, with a weekly turnover of HUF 32.004 billion.

Magyar Telekom closed the week up HUF 5, or 0.65%, at HUF 770, with a turnover of HUF 2.103 billion.

The BUMIX index of small and medium-sized shares closed Friday down 22.63 points, or 0.40%, at 5,635.52 points.