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The Hungarian stock exchange reacted immediately to the prime minister’s words, in international good humor it rose another 0.8 percent at the open, then turned sharply, showing a decline of almost 1.5 percent. The BUX has fallen almost 800 points in 20 minutes and currently hovers around 34830 points.
OTP’s share price had already risen 1.5 percent this morning after news broke over the weekend that Democrat Joe Biden won the U.S. presidential election and news markets rallied across the globe. world. However, after today’s announcement by Viktor Orbán, the Hungarian stock market changed rapidly and the price of OTP was already negative 2.3 percent.
Mol opened 1.5 percent, but as the prime minister announced, there has also been a big drop here. Mol released a particularly robust flash report last week, but even tighter access restrictions could have a noticeable impact on the company’s fuel retail business. The price falls accordingly, the price of the company has fallen almost 0.7 percent.
At Richter, we saw a similar situation to the other home countries on the blue chip, with the exchange rate dropping 2.7 percent from the HUF 7085 level, which is the peak of the day, in no time.
Magyar Telekom is the only blue chip to rise, currently standing at 0.8 percent.
In addition to blue chips, most smaller-cap stocks are down as well, driven by Nordtelekom, which is down nearly 7 percent. Nutex 4, Opus were down 4.5 percent, 4IG and Appeninn were down 2-2 percent. In good international humor, DM-KER was able to appreciate Alteo and Gloster despite the close, DM-KER was valued at 1.25%, Alteo at 0.74%, while Gloster closed on Friday but in positive territory.
In addition to the poor performance of the Hungarian stock market, the mood in the international markets is particularly good after the end of a very uncertain era in the stock exchanges with the victory of Joe Biden in the presidential election. In addition to Biden’s victory, the Senate is said to be in the hands of Republicans, so less economic stimulus is expected from the mixed congress, and Biden’s projected corporate tax burden increase could also be a serious hurdle. .
Cover image: Gabriel Kuchta / Getty Images
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