Eastern European equities End: Heavy losses in Budapest – Prague and Warsaw win
PRAGUE / BUDAPEST / WARSAW / MOSCOW (dpa-AFX) – The Budapest stock exchange suffered significant losses on Wednesday. Hungary’s leading index BUX slipped 2.94 percent to 49 083.56 points. The other major trading centers in Eastern Europe reported profits.
One reason for the losses in Budapest were high price losses of 7.6 percent in the heavily weighted stocks of OTP Bank (Orságos Takar És Ker BK ON). The Hungarian government had previously announced that it would freeze interest rates on private mortgage loans until the end of the first half of 2022.
On the Prague Stock Exchange, the leading Czech index PX (PX Prague Stock Exchange Index) rose 0.72 percent to 1,422.37 points. In the Czech Republic, the central bank decided to raise the key interest rate to 3.75 percent. The securities from the banking industry then increased: Komercni Banka (Komercni Banka AS) rose by 1.1 percent. Erste Group (Erste Group Bank) grew by almost two percent.
On the Warsaw Stock Exchange, the Wig-20 advanced 1.23 percent to 2212.32 points. The broader wig rose by 0.88 percent to 67,756.65 meters. The papers from Allegro recorded high premiums, which rose by around five percent. CD Projekt gained 3.4 percent and Dino Polska gained 2.9 percent. In contrast, the mining titles of JSW went out of trading with a minus of three percent.
The Moscow stock exchange also closed in positive territory. The Russian RTS Index (RTS) gained 1.81 percent to 1601.93 points./sto/ste/APA/ajx/he