BUX finished trading on Friday at 51,454 points, which means that the index of the Budapest Stock Exchange could record a loss of 920 points compared to the previous week.
MTI writes that the 1.76 pound feedback is reduced by the turnover, the value of transactions decreased by HUF 49 49 from the previous 55 percent.
What happened this week?
Equilor experts in their weekly summary wrote that BUX was unable to jump the 52,000-point resistance on Friday, closing the week at 0.95 per cent minus. Fearing the bankruptcy of Evergrande, international investor sentiment deteriorated earlier this week, with evidence around the company preferentially unaffected by international sentiment on Friday.
Among the events of the week, it was highlighted that the interest rate hike continued on Tuesday, but in contrast to the previous 30 basis point hikes, the Magyar Nemzeti Bank (MNB) decided to tighten only 15 basis points. The base rate thus rose to 1.65 percent. They added that the last paragraph of the central bank’s announcement states that the interest rate hike cycle will continue in monthly steps, with smaller increments, which, according to Equilor, means that the base rate will be 2.1 intentionally by the end of the year.
On Friday night, Moody’s Investors Service upgraded Hungary. The international credit rating agency announced in London that it had improved the Hungarian rating by one notch from “Baa3” to “Baa2”. In the justification of the decision, the company highlighted among the main factors of the upgrade that the growth will be strongly withdrawn in the first half of this year, and this will strengthen the resilience of the Hungarian economy. All this is helped by effective fiscal and monetary policy, he emphasizes. At that time, Moody’s changed the outlook for the Hungarian sovereign rating from positive to stable since September. On Saturday, Minister of Finance Mihály Varga said in a video posted on the Facebook page: strong and clear feedback on Hungarian economic policy that Hungary has been upgraded by the international credit rating agency Moody’s Investors Service. He added: “No better news will arrive this weekend.”
Where did the exchange rates go?
Mol increased by 0.99 during the week, the paper closed at HUF 2,460 on Friday, and its weekly turnover was HUF 10.62 more.
Magyar Telekom’s price fell by 0.59, it closed at HUF 424.5 million on Friday, and its weekly turnover was HUF 441.04 million.
Richter’s share price decreased by 2.06, it closed at HUF 8,575 on the last trading day of the week, and its turnover during the week was HUF 7.18 million.
The price of OTP decreased by 3.37, the paper closed at HUF 17,500 on Friday, and its weekly turnover exceeded HUF 26.55 percent.
The information and analysis on this site reflect the privacy of the authors. The writings published on this page do not implement the CXXXVIII. Act (Bszt.) Section 4 (2). investment analysis in accordance with point 8 and investment advice in accordance with point 9.
In making any investment decision, the suitability of a particular investment can only be determined by a personalized examination of that particular investor, which this site does not undertake and is not suitable for. Therefore, before each investment decision, find out in detail and from several sources, if necessary, consult a personal investment advisor!