Hungary's BUX index nearly flat again on Wednesday, down 0.2%
News Archive - Environmental, New & Alternative Energy - April news
BUDAPEST. APRIL 5. INTERFAX CENTRAL EUROPE - Although turnover picked up
considerably  from  previous  days,  Budapest's  benchmark BUX index was
unable to  break  out  of  the  narrow  range it has treaded in the pre-
election period on Wednesday.
With only  oil  firm  MOL  able to post discernable gains among the blue
chips, the  BUX  slid  42.88  points  or  0.19%  on  the day to close at
22,924.22  points,  its third straight losing session. The mid-cap BUMIX
index fared no better, losing 0.41% to 2,175.09 points.
With MOL  standing out in terms of turnover, trading in heavy HUF 11 bln
volume,  total  turnover  on  the  market  exceeded  recent averages and
reached HUF 24 bln on Wednesday.
Driven by  rising global oil prices and analyst opinions indicating that
the stock  is undervalued, MOL climbed 1.8% on the day to HUF 22,895. On
the down  side,  OTP Bank lost 1.1% to HUF 7,365 and Magyar Telekom shed
1.4% to HUF 945.
The telecoms  firm  announced  that  it  has  closed  the  HUF  5.1  bln
acquisition  of IT company Dataplex, in line with an agreement signed in
December.  Magyar  Telekom,  together  with its mobile arm T-Mobile, has
also completed  the  build-out  of  an  emergency  radio  communications
network  in  Budapest,  with  national coverage to be reached by January
2007.
Pharmaceutical  stocks  were mostly stagnant, with Richter down 0.5% but
Egis adding  0.2%  to its share price. Chemicals BorsodChem slumped 1.9%
and plastics maker Pannonplast slipped 0.5% on relatively high turnover.
Mortgage  bank  FHB  announced that it will recommend a HUF 28 per share
dividend payment at its upcoming AGM, up from HUF 20 paid last year. The
news failed  to  please  investors,  with  the stock falling 1.7% to HUF
1,371.
Property  holding  Fotex  jumped  1.4%  on  the day, after its furniture
retailer  unit  Domus said it had concluded an agreement to lease six of
its stores to UK retail chain Tesco for 15 years.
Small-caps  Humet,  a  dietary supplement maker, and Gardenia, a textile
firm, both  shot  up 20% on Wednesday on high turnover, with Humet's HUF
200 mln  trading volume putting it among the most sought-after stocks of
the day.

TD/RV

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source:http://www.interfax.com/5/145395/news.aspx
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