The stock index of the Budapest Stock Exchange (BSE) fell in the week, closing at 42,990.47 points on Friday, down 1.54% on a week ago, or 672.48 points, the state news agency MTI reported – along with an analysis on Sunday morning.
The weekly turnover on the stock market was HUF 29.968 billion, compared to HUF 43.869 billion the previous week, with the leading shares, except Magyar Telekom, weakening.
Bence Józsa, an analyst at Equilor Plc., said in a note to MTI that the S&P's downgrade of the outlook of the Hungarian economy had boosted sentiment on the stock market this week. The higher-than-expected second-quarter domestic GDP data also failed to pull the index higher, he added.
He mentioned that Mol has found gas in Pakistan, and is currently testing hydrocarbons found at the Tolanj West-02 well in the TAL Block area. The extractable volume is estimated at 360,000 cubic meters per day. Extraction could start in December 2022, but before that, further tests need to be conducted, he added.
OTP's share price weakened the most this week, falling 2.24% to HUF 17.08 billion, with the paper ending trading at HUF 9,148 on Friday.
The BUMIX index of small and medium-sized shares closed the week at 3,852.18 points, up 43.55 points, or 1.14%, on the previous week.
Leave a Reply Cancel reply
Top 5 Articles
- Swiss Krono Sets Up New Plywood Plant in Hungary October 3, 2023
- MVM Buys Huge Solar Power Plant in Tázlár December 20, 2023
- Investing in Sustainability October 16, 2023
- Forbes Lists the Most Valuable Hungarian Companies November 2, 2023
- The Power of Personal Connection October 15, 2023
No comment yet. Be the first!