The stock index of the Budapest Stock Exchange (BSE) strengthened this week, closing at 58,010.99 points on Friday, up 1,919.62 points or 3.42% from a week earlier, MTI reported Sunday morning.
The weekly turnover of the stock market was HUF 66.37 billion, up from HUF 34.75 billion the previous week, with the leading stocks, except Magyar Telekom, gaining.
In its weekly assessment of blue-chip stocks, Equilor Investment Plc. highlighted that OTP and Magyar Telekom received target price increases. OTP's 12-month target price was raised from HUF 13,000 to HUF 18,250 by Societe Generale, with an unchanged buy recommendation. Only a minor change was made for Magyar Telekom, with Santander revised from HUF 711 to HUF 723, the recommendation remains an overweight.
They added that HSBC has started to follow OTP's paper. The recommendation is a buy and the target price is HUF 23,150 per share. This target price is significantly higher than the Bloomberg analyst consensus of around HUF 18,000.
On Monday, the BUX closed slightly lower due to the unfavorable international sentiment, with the leading stocks weakening, with the exception of Mol. On Tuesday, the upgrading of OTP pulled the Hungarian stock index, the Hungarian stock market outperformed Western European markets with high turnover, and the good mood spread to other papers.
On Wednesday, the BUX closed with a small rise, with the leading shares, except OTP, down on the previous day's close; international stock markets saw a significant rise, but this trend was not followed by the Hungarian stock market. On Thursday, however, the day was positive on the Budapest Stock Exchange, with above-average turnover and the Hungarian stock market outperforming its international peers. The rise in the BUX was mainly supported by the good performance of OTP and Richter.
The Hungarian stock index ended the week with a small rise on Friday, with leading stocks showing mixed trends during the trading session, with OTP, Richter and Magyar Telekom ending the day in positive territory, while Mol remained unchanged.
Among the leading shares, OTP's share price rose the most this week, by 5.63%, closing at HUF 14,545 on Friday, with a weekly turnover of HUF 37.38 billion.
Richter rose by 3.22% this week, closing Friday at HUF 8,820, with a weekly turnover of more than HUF 7.88 billion.
The price of Mol rose by 1.83% this week, ending Friday's trading at HUF 2780, with a weekly turnover of more than HUF 11.76 billion.
Magyar Telekom weakened by 0.49% this week, ending Friday's trading at HUF 604, with a weekly turnover of HUF 1.36 billion.
The BUMIX index of small and medium-sized shares closed the week at 5,125.15 points, up 1.33% on the previous week, or 67.46 points.


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