BUX Index Up This Week on Rising Turnover

The Budapest Stock Exchange (BSE) share index, the BUX, closed at 43,468.28 points on Friday, up 3.98% or 1,663 points from a week earlier, the state news agency MTI reported this Sunday morning, looking back at what happened at the BSE during the week.

Share turnover exceeded HUF 48.564 billion, up from HUF 36.141 billion last week.

The BUX started the week with a strong rise of over 1%, mainly thanks to a strengthening OTP. The pace of growth slowed on Tuesday as international sentiment worsened, but returned to strong growth on Wednesday. On that occasion, the share price of Richter in particular rose, as it reported better-than-market-expected results in its half-yearly report published at dawn.

The reporting period also dominated trading on the last days of the week, with the oil and gas company Mol publishing its first half-year summary at dawn on Friday. Analysts' expectations were again positive for the stock market index, which rose on Thursday and Friday. 

In its weekly summary, Equilor Investment Plc. pointed out that the reporting period is not over yet for the leading issuers, with Magyar Telekom on Tuesday and OTP on Thursday publishing its second quarter data. From a stock market perspective, therefore, corporate results could be decisive in the coming days, with OTP's share price already driven by heightened investor sentiment this week, they told MTI.

OTP also achieved the highest weekly increase of 9.98%. Its share closed at HUF 8,930 on Friday, with a total turnover of more than HUF 23.3 billion.

The BUMIX index of small and medium-sized shares ended the week up 2.55% at 3,801.11 points.