The stock index of the Budapest Stock Exchange (BSE) strengthened this week, closing at 55,929.69 points on Friday, 1.53% higher than 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 39.33 billion, up from HUF 33.58 billion the previous week, with all the leading stocks gaining.
In its weekly summary sent to MTI, Equilor Investment Plc. pointed out that the domestic stock market was characterized by major swings last week, and after Monday's "downturn", it bounced back in line with the development of international investor sentiment.
Among the news affecting the market, it was mentioned that Fitch had revised its GDP forecast for Hungary in 2023 from stagnation to a decline of 0.9% in its sector analysis last Friday, with the growth rate in the 2024-2025 period possibly averaging 3% per year. According to the rating agency, the sustainability of next year's deficit target of 2.9% has become questionable after the government raised this year's deficit target from 3.9% to 5.2%.
Among the macroeconomic data highlighted in the commentary was the inflation data for September. According to Tuesday's data release by the Hungarian Central Statistical Office, consumer prices fell to 12.2% from 12.4% as expected, while core inflation fell to 13.1% on an annual basis.
Among the news affecting the BSE's leading companies, Equilor highlighted the target increase for OTP Bank. HSBC raised its 12-month target price on OTP Bank shares from HUF 18,000 to HUF 19,200, with the recommendation remaining a buy.
Magyar Telekom strengthened by 2.99% this week, the stock ended trading at HUF 585 on Friday, with weekly turnover exceeding HUF 1.95 billion.
Richter rose 0.58% this week, closing at HUF 8,700 on Friday, with a weekly turnover of HUF 9.87 billion.
The price of Mol was up 2.04% on the week, closing at HUF 2800 on Friday, with a weekly turnover of HUF 6.52 billion.
OTP's share price rose by 2.01% this week, closing at HUF 13 445 on Friday, with a weekly turnover of HUF 16.98 billion.
The BUMIX index of small and medium-sized shares closed the week at 4,857.24 points, down 15.85 points or 0.33% on the previous week.
No comment yet. Be the first!
Top 5 Articles
Articles by Date
- ►2023 (1128)
- ►2022 (1249)
- ►2021 (941)
- ►2020 (899)
- ►2019 (237)
- ►2018 (161)
- ►2017 (310)
- ►2016 (279)
- ►2015 (324)
- ►2014 (229)
- ►2013 (233)
- ►2012 (250)
- ►2011 (303)
- ►2010 (167)
- ►2009 (43)
- ►2008 (3)