BUX Index Rose This Week Amid Falling Turnover

The stock index of the Budapest Stock Exchange (BSE) rose this week amid falling turnover, closing at 39,537.63 points on Friday, up 4.49% on the previous week, or 1,699.33 points, the state news agency MTI reported this Sunday morning along with a brief analysis.

The weekly turnover on the stock market was HUF 30.3 billion, up from HUF 47.5 billion the previous week, with the leading shares, with the exception of Magyar Telekom, gaining.

In a summary sent to MTI, Equilor Investment Plc. highlighted that the BUX index closed the week with a significant rise.

It was reported that the Polish mBanku also revised its target price for OTP Bank and the oil and gas company Mol. The two Hungarian stocks are still recommended, but the target price of the bank has been raised and that of the oil company lowered. OTP's new target price was raised to HUF 15,729 from HUF 15,045, while Mol's target price was lowered to HUF 3,634 from HUF 4,624.

Among the economic news of the week was that the prime minister's political adviser said there was no basis for fears of a sovereign default, and that the country's macroeconomic figures did not point to any risk. Balázs Orbán stressed that there should not be a situation in which the IMF would have to be called in, Equilor recalled.

This week, Mol's share price rose 6.82% to HUF 7.79 billion, with the paper ending trading at HUF 2,570 on Friday.

Richter gained 6.22%, closing at HUF 7,860 on Friday, with a weekly turnover of HUF 6.33 billion.

OTP's share price rose by 3.16% to HUF 8,158 this week, with a turnover of almost HUF 15 billion.

Magyar Telekom's share price fell by 1.35%, closing at HUF 291.5 on Friday, with a weekly turnover of HUF 308.3 million.

The BUMIX index of small and medium-sized shares closed the week at 3,591.28 points, up 4.71 points, or 0.13%, on the previous week.