BUX, the stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 53,404.17 points on Friday, up 1,549.52 points or 2.99% from a week earlier, MTI reported Sunday morning along with a brief analysis of the week’s trading.
The weekly turnover of the stock market was HUF 56.15 billion, up from HUF 49.09 billion the previous week, with leading shares performing mixed.
According to Equilor Investment Plc.'s weekly commentary, the BSE rose throughout the week, with Mol on Monday and Wednesday, OTP on Thursday and positive international sentiment on Tuesday and Friday helping the stock index to strengthen.
Among the leading shares, those of Mol were last in circulation on Wednesday with a dividend coupon. Mol paid a dividend of HUF 354 per share, which provided a dividend yield of more than 11% compared to Wednesday's closing price of HUF 3,190.
Richter announced on Thursday that it had bought a Dutch women's pharmaceuticals company for EUR 30 million, with news of the acquisition helping the rise slightly. As a result, the price of Richter shares rose by HUF 55, or 0.63%, to HUF 8,855 on Thursday, with a turnover of HUF 2.2 billion.
On Friday, share prices strengthened on the back of positive international sentiment, with the BUX rising for the 11th day in a row. Among the blue chips, Mol and OTP showed bigger gains, with the latter's share price very close to the HUF 13,000 level, which could be an important barrier to further gains.
It is also recalled that Waberer's International Plc. has signed a preliminary agreement to acquire a 51% stake in Petrolsped Transport Ltd., which is also active in the rail logistics segment. With the acquisition announced on Wednesday, Waberer's will significantly develop its rail logistics capabilities in line with its announced strategy to diversify its service portfolio. The transaction is expected to close in the fourth quarter of 2023, following the successful completion of due diligence and regulatory approval. Waberer's International Plc shares closed at 2070 forints on Wednesday, up 2% from Tuesday's closing price.
OTP was the biggest gainer among the leading stocks this week, rising 3.74% to close at HUF 12,750 on Friday, on weekly turnover of HUF 29.08 billion.
The price of Richter rose by 0.86%. The stock closed Friday at HUF 8,825 with a weekly turnover of HUF 8.38 billion.
Magyar Telekom fell 1.79% this week, ending Friday's trading at HUF 412.5 with a weekly turnover of HUF 431.76 million.
Mol's share price fell 6.98%, with a weekly turnover of HUF 16.40 billion, closing Friday at HUF 2,880.
The BUMIX index of small and medium-sized shares closed the week at 3,730.80 points, up 72.33 points or 1.98% on the previous week.
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