What changed
2026-10-04 08:12 UTC → 2026-10-28 08:12 UTC ·
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Following the volatility and decline seen in late August, the The Budapest Stock Exchange (BÉT) entered early experienced significant volatility throughout late August and September with cautious 2026. On 24 August, the BUX index reached a historic peak, closing at 151,360.28 points. However, economic optimism declined in late August as the GKI conjuncture index fell to -8, reflecting weakened business and consumer confidence. By early September, the BUX index saw cautious, marginal movements. On 31 August, the BUX index opened at 150,787 points with low turnover. During this session, While Mol and Magyar Telekom saw modest gains, while OTP Bank, Richter, Bank and 4iG Richter experienced declines. Notably, Mol also received an OFAC extension from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to continue for its NIS negotiations, with the permit valid until 30 September. By 2 September, the BUX index opened slightly higher by 0.01 percent, reaching 148,636.56 points. Analysts attributed potential downward pressure to uncertain international investor sentiment. Individual stock performance remained mixed: Magyar Telekom rose by 1.9 percent, and Mol increased by 0.59 percent, while OTP Bank fell by 1.3 percent and Richter declined by 0.15 percent. Despite the share price drop, Romer Capital raised its target price for OTP Bank from 54,000 to 58,000 HUF. On 7 September, the BUX index rose by 0.97 percent to close at 148,969.39 points, with trading volume reaching 14 billion forints. This growth was primarily driven by Mol Group, which rose 1.63 percent to 5,065 forints amid rising oil prices, and OTP Bank, which increased 1.51 percent to 45,680 forints. Magyar Telekom also saw gains of 0.63 percent due to technical buying signals. Conversely, though Richter shares fell 1.02 percent to 12,580 forints, a decline linked due to a global trend in pharmaceutical stocks. By trends. In late September, the index faced downward pressure. On 28 September, the BUX index fell 1.4 percent to close at 149,155.36 points. This decline was points, largely driven by due to OTP Bank, whose Bank shares dropped dropping nearly 4 percent to 44,100 HUF following amid reports that the bank may consider withdrawing of a potential withdrawal from the Russian market, a region representing which represents approximately 20 percent of its revenue. By This volatility intensified by 30 September, with OTP Bank shares dropping over 6 percent to 39,980 HUF. By early October, OTP Bank CEO Péter Csányi confirmed the exchange experienced significant volatility. bank was reviewing its Russian subsidiary while remaining committed to the potential acquisition of the Luminor group. In late October, OTP Bank shares recovered to 42,290 HUF, even as Goldman Sachs lowered its price target. Meanwhile, Mol Group prepared to reclaim approximately 133 billion HUF in previously paid carbon dioxide quota taxes.