The stock market turnover was 23.4 billion forints, with the leading stocks, with the exception of Richter, strengthening compared to the previous day's close.

Ákos Czibere, an analyst at Equilor Investment Co., told MTI that the BUX outperformed most leading European stock market indices. 

Magyar Telekom published its first-quarter report on Wednesday, with the company's revenue and profit exceeding expectations. The market reaction was accordingly favorable, with the share price rising significantly.

Among the leading stocks, OTP and MOL also closed in the red. 

Investors expect that there will not be a very serious trade war between the United States and China, so there will not be a significant economic downturn. 

This helped the banking sector, and financial institutions and telecommunications companies also performed well internationally, the analyst explained.

Richter, on the other hand, weakened; according to the company's Tuesday's quick report, the first quarter was in line with expectations, but there is still a possibility that the planned US pharmaceutical market measures could have a negative impact on the company's results, he added.

MOL strengthened by 50 forints, or 1.62 percent, to 3,130 forints, with a turnover of 3.1 billion forints.

The price of OTP shares increased by 500 forints, or 1.83 percent, to 27,750 forints, with a turnover of 13.3 billion forints.

Magyar Telekom's share price rose by 70 forints, or 4.27 percent, to 1,710 forints, and its turnover was 3.2 billion forints.

The price of Richter shares decreased by 100 forints, or 0.95 percent, to 10,450 forints, and the turnover of shares reached 2.8 billion forints.

BUMIX closed at 8620.14 points on Wednesday, an increase of 39.86 points, or 0.46 percent, compared to Tuesday's close.

Source: 
MTI - The Hungarian News Agency, founded in 1881.

*********************************

You're very welcome to comment, discuss and enjoy more stories via our Facebook page: 
Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here: XpatLoop.com/Newsletters

Do you want your business to reach tens of thousands of potential high-value expat customers? Then just contact us here.