BUX Index Rose on Rising Turnover This Week

The stock index of the Budapest Stock Exchange (BSE) rose on an upward trend this week, closing at a historic high of 70,378.92 points on Friday, up 1.21% to 842.36 points from a week earlier, MTI reported Sunday morning along with a brief analysis.

The stock market turnover for the week was HUF 55.49 billion, up from HUF 45.08 billion the previous week, with the leading stocks, with the exception of the stagnant Richter, gaining.

In its weekly summary, Equilor Investment Plc. pointed out that the BUX broke through the 70,000-point level again this week and remained above it at the end of the week.

OTP received a target increase this week, with Polish PKO raising its 12-month target price on OTP Bank from HUF 16,095 to HUF 18,917, with an unchanged recommendation, the summary said.

They also pointed out that Richter announced this week that it has acquired Belgium-based BCI Pharma, which conducts research in gynecology. The transaction is worth EUR 12 million, the payment of which is subject to development milestones to be met over the next few years.

Equilor recalled that Magyar Telekom had announced a share buyback program. The company purchases up to HUF 24 billion in treasury shares between June 19 and 26, with a maximum number of 225,818,026 shares to be purchased, representing 23% of the total issued share capital. The transactions will be carried out in ordinary trading on the Budapest Stock Exchange.

Among the leading shares, Magyar Telekom's share price rose by 2.14% this week, closing at HUF 1052 on Friday, with a weekly turnover of more than HUF 15 billion.
Mol rose 0.99% this week, closing Friday at HUF 2,850, with a weekly turnover of HUF 8.8 billion.
OTP shares rose by 2.11% this week, ending Friday at HUF 17,640, with a weekly turnover of HUF 22.78 billion.
Richter was unchanged at HUF 9,300 on Friday, with a turnover of HUF 6.3 billion.

The BUMIX index of small and medium-sized shares closed at 6,406.60 points, down 1.66 points, or 0.03%, on the previous week.

Translated with DeepL.com (free version)