Budapest Stock Exchange shows mixed performance for major equities

The Budapest Stock Exchange (BÉT) has seen significant movement among its leading stocks. OTP Bank shares experienced a rise, closing at 42,290 HUF on Tuesday, despite Goldman Sachs lowering its 12-month price target from 52,200 HUF to 50,600 HUF while maintaining a ‘buy’ recommendation.

Mol Group shares rose to 4,980 HUF, as the company prepares to reclaim approximately 133 billion HUF (405 million USD) in previously paid carbon dioxide quota taxes following new legislation. This refund, including interest, is expected to be processed directly from tax authorities later this year.

Richter shares remained relatively stable near 13,430 HUF, maintaining a positive technical outlook. Magyar Telekom also saw gains, rising 2.55 percent to 2,730 HUF. Analysts suggest that while the BUX index recently closed above the 146,000 point level, the market may face a negative correction in upcoming sessions.