BUX Up on Rising Turnover This Week

The Budapest Stock Exchange's (BSE) share index, the BUX, rose 1.26% to 672.22 points last week, closing at 54,012.06 points on Friday , MTI reported Sunday morning along with a brief analysis of the week’s trading.

The weekly turnover on the stock market rose to HUF 44.48 billion from HUF 41.61 billion the previous week, with the leading shares, with the exception of Mol, gaining.

The BUX started the week with a slight rise as investors were preparing for the release of the half-yearly corporate reports. Trading momentum was broken in mid-week, at the same time as Western stock markets performed poorly and international sentiment turned negative. The domestic downturn was short-lived, with buyers returning to the market on Thursday and the BSE performing better than the European average. The stock market index also ended the last day of the week with a rise.

The price of the leading shares was determined by expectations ahead of corporate reports. Mol and Richter's results were slightly better than expected, and experts expect the largest issuer, OTP, to publish positive data next week. Overall, the technical picture for Mol and Richter is neutral, and the reports did not have a significant impact on the companies' share prices, Equilor Investment Plc said in a summary sent to MTI.

OTP achieved the most significant rise of 2.91% to HUF 375 this week, with its share price reaching HUF 13,275 on Friday and its weekly turnover reaching HUF 27.014 billion.

Shares of Richter ended the week 1.71% stronger at HUF 150, at HUF 8,915, with a turnover of more than HUF 7.345 billion.

Magyar Telekom rose 1.42% to HUF 6 in a week, closing at HUF 427.5, with a weekly turnover of nearly HUF 600 million.

Mol shares fell 1.44% to HUF 2,738, down HUF 40, on weekly turnover of HUF 8.386 billion. The BUMIX index of small and medium-sized shares ended the week up 0.85% at 33.95 points at 4,027.73.