The BUX Rose on Falling Turnover This Week

The BUX, the stock index of the Budapest Stock Exchange (BSE) rose on a downward trend this week, closing at 39,412.74 points on Friday, up 112.99 points or 0.29% on the previous week, the state news agency MTI reported on Sunday morning.

Turnover fell from HUF 67.1 billion the previous week to HUF 38.25 billion, with leading shares performing mixed.

In a summary sent to MTI, Equilor Investment Plc. said that the BUX index managed to rise this week and is struggling to reach the 40,000-point level. The leading stocks moved in opposite directions, with Richter and Mol doing well, and OTP and Magyar Telekom weaker. There could be a bigger move in the bank paper price soon, for now the technical picture is pointing downwards and this is definitely something to watch out for next week, they said.

On Monday, Mol and OTP extended their equity swap agreement. Under the 2009 agreement, OTP Bank has 40 084 008 Mol shares and Mol has 24 million OTP shares, protecting both companies from potential hostile takeovers. The agreement has been extended until 11 July 2027, Equilor said. It added that Mol has signed new share option agreements with Unicredit and ING Bank, which expire on June 23, 2023.

Equilor mentions that 4iG bought its own shares. According to the company's announcement, a total of 15,000 shares were bought in Monday's trading, with the average price at HUF 778.68. Following the transaction, the company's treasury stock increased to 0.36%.

Mol's share price rose the most this week, by 1.18%, closing at HUF 2,926 on Friday, with a weekly turnover of more than HUF 10 billion.

The BUMIX index of small and medium-sized shares closed the week at 3795.10 points, up 53.69 points, or 1.44%, on the previous week.