BUDAPEST: The Budapest Stock Exchangeʼs main BUX index finished down 1, 25% at 22,002.43 Tuesday after shedding 0.09% Monday. It is up 32.27% from year-end, after losing 10.40% last year.
OTP = – 0.39%
MOL = – 2.23%
MTEL = – 0.99%
RICHTER = – 1.78%
Ahead of a national holiday in Hungary to be stretched out to four days from Thursday, the Budapest bourse followed Western markets down the slope in slow trade, reflecting global amazement in view of Chinese bourses resuming their plunge despite government money pouring in.
While euro zone markets diligently pared losses by late afternoon, gloom carried the day in Budapest in waiting for statements from a regular government session on matters expected to have been discussed, including the handling of migrants, an issue that has already pitted Hungary-EU relations, converting foreign-currency car loans into the local currency, and a response to the EUʼs prohibition in July of Hungaryʼs application of two special taxes, the steeply progressive food inspection fee and special tobacco levy, due to the EUʼs pending probe into the taxes on illicit state aid considerations.
