BUX Rose on Rising Turnover This Week

BUX, the stock index of the Budapest Stock Exchange (BSE) rose on rising turnover this week, closing at 39,299.75 points on Friday, up 0.90 on the previous week's close of 349.08 points, the state news agency MTI reported this Sunday morning.

Turnover rose from HUF 40.28 billion the previous week to HUF 67.01 billion, with leading shares performing mixed.

Equilor Investment Plc.. said in its summary sent to MTI that the BUX closed the week on an upward trend after the previous week's fall, but it is still waiting to break the 40,000-point level.

The analysis indicated that S&P Global Ratings did not change its rating on Mol, the international rating agency affirmed its 'BBB-' investment-grade rating on the domestic oil company with a stable outlook.

Among the week's events, OTP was said to have 'bought back' further. The company had bought back 360,000 of its own shares by Thursday, with information on any buybacks on Friday expected by the first working day of next week.

In its weekly summary, Equilor also noted that OPUS published its first quarterly report this week, with revenues more than doubling to HUF 97.5 billion in the first three months compared to the same period last year. Earnings before interest, tax, depreciation and amortization (EBITDA) rose even more, from HUF 2.8 billion a year earlier to HUF 12.8 billion. The company reported a loss of EUR 207 million on the profit after tax line, due to the loss recorded on the financial line and the significant tax liability.

Mol's share price rose the most this week, by 8.64, closing at HUF 2,892 on Friday, with weekly turnover exceeding 18.8 billion.

Richter rose by 0.29 this week, ending Friday's trading at HUF 6,820. The paper's weekly turnover was more than HUF 7.6 billion.

OTP fell 3.47, closing at HUF 8,458 on Friday, with a weekly turnover of HUF 38.4 billion.

Magyar Telekom weakened by HUF 5.31 this week, closing at HUF 339 on Friday, with weekly turnover exceeding HUF 1 billion.

The BUMIX index of small and medium-sized shares closed the week at 3741.41 points, down 125.48 points or 3.24 on the previous week.