BUX Rose on Rising Turnover This Week

BUX index, the stock index of the Budapest Stock Exchange (BSE) rose in the four-day week, closing at 43,176.64 points on Friday, up 177.25 points or 0.41% from a week ago, the state news agency MTI reported this Sunday morning.

Turnover for the four-day trading week was HUF 55.71 billion, up from HUF 52.32 billion the previous week, with the leading stocks, with the exception of Richter, gaining.

In its weekly summary sent to MTI, Equilor Investment Plc. said that the post-holiday bank holiday week on the Budapest Stock Exchange did not hold any particular excitement. 

Tuesday and Wednesday were both quiet on the Hungarian stock exchange, with Mol among the leading stocks performing exceptionally well on both days, first gaining 2.40% and then 2.73% on HUF 5.9 and 5.6 billion respectively. According to Equilor, Mol's share price benefited from the further widening of the price differential between Brent and Russian Ural oil, which is good for the Hungarian company that refines Russian oil.

On Thursday, the BUX rose 0.13% on positive international sentiment. OTP and Magyar Telekom were among the leading Hungarian stocks moving with international trends, while Mol's share price fell 1.65% on HUF 5.9 billion in turnover. The weakening of the oil company's share was partly explained by the emergence of profit-takers in Mol's share price following the brisk rise seen in recent days.

On Friday, the BUX index weakened by 0.21%, but still outperformed Western European markets.

Mol was the strongest performer this week, up 2% on HUF 21.99 billion, ending the week at HUF 3,060 on Friday.

The BUMIX index of small and medium-sized shares closed the week at 4,091.50 points, down 47.38 points, or 1.14%, on the previous week.