Friday's deal ended with thirty billion bills on the Budapest Stock Exchange. Western European exchanges have also lost their losses. Oil price depression has raised concerns for investors
The stock market index of the Budapest Stock Exchange was 126.82 points, down 0.33%, closing at 38 586.63 points. The stock market's turnover was HUF 30.6 billion, the main shares were mixed as compared to the previous day's closing, while MTI accrued.
On Friday, less earnings were made. The trading took place above the average, indicating that there is potential in the stock, "said Kiss Kiss Nicholas, an analyst at Erste Befektetési Zrt., M1. In western European markets, indices dropped sharply from initial major reductions to the end of the day.
OTP reported third quarter results on Friday, which were more favorable than analysts' expectations. However, investors had previously saved a positive result, so the OTP exchange rate fell on Friday due to a profit. The OTP Bank Group achieved consolidated earnings after taxes of HUF 85.9 billion in the third quarter, 4% less than the previous quarter and 8% more than in the previous year. Consolidated adjusted earnings after tax in the third quarter totaled FRF 92.7 billion, 2% higher than in the previous quarter, 17% higher than last year.
Mol increased by 26 centimeters HUF, 0.85 percent to 3078 forints, with a turnover of HUF 4.5 billion.
The price of OTP's shares fell by HUF 150, HUF 11.1 billion to HUF 11 100 and H1F 21.2 billion.
The Magyar Telekom exchange rate did not change to HUF 403, its turnover was HUF 252.8 million.
The price of the Richter papers fell by 35 Ft, 0.64% to 5400 forints, and the turnover of the shares reached FRF 3.4 billion.
BUMIX at 3698.78 units closed on Friday, marking an increase of 6.28 points by 0.17% compared to last Thursday.
Poor integration in Europe
After the weak start, the main European stock market indices closed on Friday, "MTI wrote.
At the end of European trading time, European FTSE EuroFirst 300 and Stoxx600 showed losses of 0.36 and 0.42 per cent, while the EuroStoxx50 of the euro area declined by 0.20 per cent.
The DAX index was little changed in Frankfurt, the London-based FTSE-100 declined by 0.41% on the basis of informal closing and 0.48% in Paris, the CAC-40 index. Madrid 0.38 percent, Milan lost 0.79 percent loss on Friday's trading
The biggest losers of the day were stockpiles of raw materials and cars. The index of the former sector was almost 4% and the carmaker fell more than two percent. The worsening of the investors' climate is due to the increase in world trade concerns.
Deterioration in oil prices, which boosted the slowdown in the global financial outlook, has also created anxiety among stock market investors.
Brent crude oil prices dropped 0.72% at the end of the European trading session to $ 70.14, lower than per barrel, while the WTI fell by 0.77% to $ 60.20. Brent's April price dropped by $ 70 for the first time this Friday and the WTI price below $ 60 is a low 12-month period. Oil prices fell by 20% compared to October's four-year peak.
Favorable news is trading on the stock market on Friday. The growth of the British economy has accelerated over the last two years in the third quarter of this year. According to the first UK estimate of the United Kingdom's Statistical Office (ONS), the UK's total domestic product (GDP) increased by 0.6% in the quarter ending in September, compared with the previous quarter. This was the faster increase than GDP growth of 0.7% in the fourth quarter of 2016.
The euro fell 0.23% lower than $ 1.1338 while the gold price fell by 1.20% to $ 1211.50 per ounce.
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