BUX has risen in the upward trend this week
The stock index of the Budapest Stock Exchange (BSE) strengthened this week, BUX closed at 37.333.40 points on Friday, 1041.27 points, 2.88% higher than the closing price of the previous week.
The weekly turnover of the stock market exceeded 38.5 billion forint after the previous 34.8 billion forint last week, all leading stocks strengthened, the highest share of Richter, 4.05 percent and the lowest in Mol, 1.99 percent. Equilor Investment Ltd stock market analysis for MTI showed that the equity index this week was fundamentally upward, but currencies of emerging countries are still under pressure, mainly due to the Argentine crisis and the Turkish economy has not been resolved , and therefore this weakened HUF exchange rate.
According to Duna House's report on Monday, the operating result of the group of real estate companies amounted to 623.21 million forint in the second quarter, an increase of 370 million forint last year, an increase of 146 percent on an annual basis. The company keeps a forecast of the profit after tax of 950 million – 1,150 billion. According to the analysis, the target price of Magyar Telekom was reduced from HUF 600 to HUF 570 for HSBC, with the paper being kept on the recommendation.
Masterplast closed a strong second quarter. The company's turnover amounted to EUR 27 million, almost 14 percent higher than last year. Profit after tax of the company increased by 95 percent to EUR 1.65 million, mainly due to exchange rate fluctuations and price gains. The management of the company is hopeful for the next quarter and expects further growth on the Polish market.
Turnover at Rába increased by 9 percent in the second quarter compared to the previous year, thanks to the chassis and vehicle components business units. The results of the company, however, showed a decline, which Rába explains with the rising costs, such as the price of steel raw materials and energy prices. The operating result fell by 33 percent and the profit after tax fell by 55 percent compared to the second quarter of last year.
Richter was strengthened this week with 4.05 percent, closed on Friday at 5530 forinton, with a weekly turnover of more than 9.1 billion forint.
The shares of Mol reached 1.99 percent this week, ending 2870 forinton trading, with a weekly turnover of more than 7.2 billion forints.
The price of OTP rose by 3.76 percent this week, the closing price of Friday was 10 360 forint, the weekly turnover was almost 19.5 billion forint.
Magyar Telekom strengthened with 2.48 percent, closed on Friday with 412.5 forint, with a weekly turnover of HUF 897 million.
The index of small and medium-sized shares on BUMIX 3696.14 closed Friday, 15.84 points for the previous week, 0.43 percent lower.