The BUX Fell This Week on Rising Turnover

The Budapest Stock Exchange's (BSE) share index, the BUX, closed at 41,255.70 points on Friday, down 2.03% on the previous week at 852.93 points, the state news agency MTI reported this Sunday morning.

Turnover rose from HUF 64.233 billion the previous week to HUF 70.881 billion, with only OTP among the leading shares showing some growth.

According to a summary by Equilor Investment Plc., stock markets were basically down this week, with the BUX index almost touching the 40,000-point level, from where a positive correction started. Trading in the coming period is expected to remain rather hectic, with prices basically remaining in a downward trend, but the movement could be interrupted by strong positive corrective waves, they said.

They recalled that Richter published positive management figures on Tuesday. The drugmaker managed to beat all expectations in the first quarter. Despite the Russian-Ukrainian war, sales in Russia, Richter's second largest market, were up 7.2% on an annual basis in HUF terms.

Magyar Telekom published its first-quarter flash report on Wednesday: the company's revenue rose by 8.4% on an annual basis to HUF 175.9 billion, ahead of the 6% growth predicted by analysts.    

OTP was the only rising stock of the week, up 0.49%, closing at HUF 10,300 on Friday, with a weekly turnover of HUF 44.7 billion.

The BUMIX index of small and medium-sized shares fell 1.80% to 3948.38 points, with a turnover of almost HUF 1.3 billion.