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The Budapest Stock Exchange’s (BÉT) leading index, the BUX, closed at a record high of 74,051 points in July, marking a 2.7 percent increase from June.
The total turnover of the spot stock market in July was HUF 226B (EUR 569.7M), with a daily average of HUF 9.8B (EUR 24.7M). The most popular stocks for the month were OTP Bank, Richter, and MOL, with turnovers of HUF 145B (EUR 365.5M), HUF 33.7B (EUR 84.9M), and HUF 28.2B (EUR 71M), respectively. Among investment service providers, Wood & Company led the market with HUF 112.1B (EUR 282.6M), followed by Erste Bank and Concorde with HUF 98.1B (EUR 247.3M) and HUF 95.2B (EUR 240M), respectively.
Global stock market sentiment in July was primarily driven by inflation concerns, according to the BÉT.
In the US, both the S&P 500 and NASDAQ indices saw gains, propelled by the technology and communications sectors. European stock markets displayed mixed results, while China’s economic growth showed signs of continued slowdown. Despite these global trends, the BÉT’s performance remained robust, reflecting strong local market activity.
In a strategic move to bolster the competitiveness and growth of medium-sized companies, the BÉT and UniCredit Bank signed a cooperation agreement in July.
This partnership will establish an exclusive “BÉT-UniCredit Lounge” forum, aimed at providing regular meetings, training sessions, and events for executives of selected companies. Meanwhile, the commodities market experienced a quiet month, with a total turnover of HUF 123M (EUR 310K), as reported by the Budapest Stock Exchange.
Via MTI; Featured Image: Pixabay