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According to the Index, the government may order a full shutdown until Easter due to the sharp increase in coronavirus infections. The Hungarian stock market is significantly underperforming European stock indices, the BUX index is down 1.4 percent, mainly due to the weaker performance of OTP and Mol. However, unfavorable international sentiment plays a role as well, as many investors are concerned about rising bond yields and inflation.
The chart below clearly shows that the BUX index is at the bottom of the field, while the major European stock indices are only moderately in the red.
OTP fell 1.9 percent to HUF 13,240, with the bank’s quick report coming tomorrow.
Mol is down 1.5 percent to 2,180 HUF, and OPEC + is holding its regular monthly meeting today to decide on oil production. This can also have an effect on the exchange rate.
Neither Richter nor Magyar Telekom are performing well today, with the former down nearly 1 percent and the latter down 0.6 percent.
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