BUX Slightly Higher This Week on Falling Turnover

The stock index of the Budapest Stock Exchange (BSE) rose slightly this week, closing at 43,983.38 points on Friday, up 47.82 points or 0.11% from a week ago, the state news agency MTI reported this Sunday.

Turnover was HUF 92.09 billion, up from HUF 110.94 billion the previous week, with leading shares performing mixed.

In its weekly summary sent to MTI, Equilor Investment Plc. highlighted that OTP in particular performed poorly this week.

The analysis recalled that according to the oil and gas company MOL's published dividend proposal, the basic dividend would be increased from HUF 95 to HUF 100, and an additional extraordinary dividend of around HUF 200 per share is proposed, given the record high EBITDA and free cash flow, and the extremely strong external market conditions. This could result in a total dividend of around HUF 300 per share, if approved by the AGM.

Equilor has also indicated that MOL will leave the UK; the company announced that it will sell its UK production interests to Waldorf Production Limited for USD 305 million. The closing of the transaction is subject to obtaining additional regulatory approvals and is expected to take place in the second half of the year.

Mol was the strongest performer this week, up 9.77% on HUF 21.19 billion of turnover, ending the week at HUF 2,810 on Friday.