BUX Index Rose This Week on Increasing Turnover

With increasing turnover, the stock index of the Budapest Stock Exchange (BÉT) rose this week, closing at 45,419.78 points, which is 1,626.02 points or 3.71% higher than a weeks earlier, MTI reported this morning along with a brief analysis of the week.

The weekly turnover of the stock market was HUF 35.223 billion after HUF 20.295 billion reached on the four trading days of the previous week, the leading stocks strengthened.

In its weekly summary sent to MTI, Equilor Investment Plc. highlighted that the BUX index closed the first week of the new year with a significant increase of around 3.5%. The stock market index only increased slightly, by 0.42%, on Friday, but at the same time it showed a great performance in the last trading days.

The Hungarian currency, the forint was able to strengthen during the week, the exchange rate of the euro was close to HUF 396, and the US dollar was close to HUF 376 on Friday.

Richter has received a target price reduction. RBC Capital cut its 12-month target price for Richter from HUF 13,300 to HUF 12,800, the recommendation remains overweight.

They also mentioned that on January 5, the pharmaceutical company bought 22,529 own shares with the cooperation of UniCredit Bank Hungary Plc. at the BÉT at an average price of HUF 8,402 per share.

Among the smaller shares listed in the premium category, Masterplast's shares weakened by 1.81% to HUF 3,790 after the building materials manufacturing company announced on Friday that it had reduced its 2022 profit forecast because the company's operations were adversely affected in the fourth quarter by high raw material prices and exchange rate fluctuations.

Among the leading stocks, OTP rose the most, by 6.58%, the paper closed at HUF 10,775 on Friday, with a turnover of HUF 20.505 billion.

Magyar Telekom's share price rose by 4.72% during the week, the share ended trading at HUF 355 on Friday, and its weekly turnover was HUF 388.778 million.

The price of Mol shares increased by 1.77%, the share reached HUF 4.158 billion in turnover during the week, and closed at HUF 2,648 on Friday.

Richter gained 1.45%, ending trading at HUF 8,420 on Friday, with a weekly turnover of HUF 8,990 billion.

The BUMIX index of small and medium-sized shares closed at 3,686.29 points this week, which is 81.67 points or 2.27% higher than the previous week.