Budapest Stock Exchange BUX index hits historic record high

The Budapest Stock Exchange (BÉT) reached a historic milestone as the BUX index closed at a record high of 150,552.70 points on Friday, marking a 1.29 percent increase from the previous close.

Market performance was mixed among leading stocks. Mol and Richter saw gains, with Mol reaching an annual high of 4,960 HUF. Richter also rose by 1.56 percent to 13,000 HUF, supported by recent favorable earnings reports. Conversely, OTP Bank shares decreased by 0.63 percent to 46,050 HUF, likely due to profit-taking following a significant recent rally. Magyar Telekom's share price remained unchanged at 2,630 HUF.

Analysts noted that the Hungarian market outperformed international markets during this period. This trend was attributed to capital shifting toward the Hungarian exchange following profit-taking on major global indices. Additionally, several blue-chip companies received target price increases from major financial institutions, including Mol, Magyar Telekom, and OTP Bank.