Beyond Expectations: Budapest Stock Exchange Closes 2023 Near Record High

  • 2 Jan 2024 12:57 PM
  • Hungary Around the Clock
Beyond Expectations: Budapest Stock Exchange Closes 2023 Near Record High
The BUX index closed at 60,739 points at the end of the last trading day of 2023 on December 29, just below its all-time peak of 61,061 reached on December 20.

Economx observes that the index performed very well in 2023, rising from 45,000 points to over 60,000 points, although there was a drop at the beginning of the year, when the index sank to 40,000 points.

The value of shares in OTP, the largest and most liquid stock on the Budapest exchange, went up by 55% during the year.

Magyar Telekom shares almost doubled in price during the year, to Ft 670. This is mainly due to shareholder benefits, such as dividends and the purchase of treasury shares, and the positive effect is greatly increased by the rapidly decreasing central bank rate and the falling government bond yields, according to the Economx website.

The performance of the BUX was beyond expectations, increasing by 38%, which is a leading rate in Europe, equal to Athens and Warsaw, observed analyst Tamás G. Korány.

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