BUX Index Up on Rising Turnover

The Budapest Stock Exchange (BSE) share index closed the week at 42,327.67 points, up 6.73% or 2,668.44 points compared to last Friday. Total turnover rose from HUF 40.24 billion to HUF 63.92 billion, with the leading shares, with the exception of Mol, gaining, the state nedws agency MTI reported Sunday morning.

The BUX closed the previous week below 40,000 points, but started Monday with a significant rise, partly due to the good international sentiment. The rise continued on each day of the week, with the BUX exceeding 41,000 points on Wednesday, a level last seen in early June. Friday's BUX level above 42,000 is the best since the end of May. 

According to Equilor Investment's weekly summary, the two largest issuers on the BSE are behind the strong rise in recent days. Although Mol did not perform well in the weekly aggregate, it received EU approval for expansion in Poland, where it is buying 417 filling stations under a deal signed in January.

OTP strengthened on the back of its acquisition of Alpha Bank Albania, with the financial close of the sale announced on Monday. This could make OTP's subsidiary bank the third largest banking service provider in the Balkan country in terms of customer loans.

Richter gained the most during the week, 10.59%, with a turnover of HUF 15.81 billion, reaching HUF 8,305 forints.

The BUMIX index of small and medium-sized shares rose 3.46% in a week, closing Friday at 3,688.58 points.