Hungarian Stocks Get Hammered As Pandemic Fears Grow

  • 2 Mar 2020 10:51 AM
  • Hungary Around the Clock
Hungarian Stocks Get Hammered As Pandemic Fears Grow
Hungary’s benchmark BUX stock exchange index plummeted 5.7% to 40,230 on Friday, as global stock markets fell due to fears of the escalation of the coronavirus outbreak.

For the week the BUX fell by 12%. OTP shares fell by 7.4% on Friday, the stock’s biggest one-day loss since the Brexit referendum in June 2016, to end the week at Ft 13,290 on Ft 20.1 billion turnover.

MOL fell 3.8% to Ft 2,364, Richter sank 6.33% to Ft 6,215 and Magyar Telekom lost 5% to end trading at Ft 398.

The weekly losses for these three shares were 12.3%, 12% and 9%, respectively, as they suffered their worst week since the global financial crisis of 2008.

The forint reached a new all-time low against the euro at 340.69 on Friday, before recovering slightly to end the week below 338.5. The forint traded below 307 against the dollar.

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