Budapest Stock Exchange BUX Index Rises on Mol and OTP Gains

The Budapest Stock Exchange (BÉT) BUX index closed the week at 143,471.05 points, up 1.77% from the previous week, with weekly turnover reaching 106.9 billion forints, higher than the 102.8 billion recorded a week earlier. Leading contributors were oil major MOL, which hit a historic price peak after a new gas discovery in the Adriatic boosted its outlook, and OTP Bank, whose shares rose following the announcement of its acquisition of Luminor, the Baltic region’s third‑largest banking group.

Analysts responded by raising target prices: Goldman Sachs increased OTP’s 12‑month target from 51,200 to 51,700 forints, Trigon Dom lifted its recommendation to a buy, and Erste Biuro raised MOL’s target from 3,300 to 4,100 forints. MOL also indicated that its New Europe Foundation would be wound down, affecting the handling of certain MOL‑issued shares and creating some uncertainty around dividend timing, though the expected dividend amount was noted to increase.

Overall, the BÉT experienced a modest weekly rally driven primarily by the performance of MOL and OTP, while other stocks, such as Richter, were less active.