The Budapest Business Journal on the web

BUX gains 0.75% on strong US housing data

Tuesday 05:45, December 20th, 2011

The Budapest Stock Exchange’s blue-chip BUX index closed Tuesday trade up 0.75% to 17,650.43 as the release of data showing that housing starts jumped 9.3% mo/mo in November in the United States, the highest level since April 2010, boosted the outlook for the global economy.Read more

Demand strong, yields steady at three-month T-bill auction

Tuesday 02:25, December 20th, 2011

Demand was more than three times the offer and auction yields were steady at an auction of three-month discount T-bills by the Government Debt Management Agency (AKK) on Tuesday. Read more

BUX opens down 0.75%

Tuesday 09:30, December 20th, 2011

The Budapest Stock Exchange’s blue-chip BUX index opened Tuesday trade down 0.75% at 17,387.31.Read more

BUX gains 2.68% on sharp MOL advance

Monday 05:20, December 19th, 2011

The Budapest Stock Exchange’s blue-chip BUX index closed Monday trade up 2.68% to 17,519.07 on an advance of over 6% from heavyweight issuer MOL following a British press report that Exxon Mobil was interested in purchasing the company’s partner, Gulf Keystone Petroleum, for around GBP 7bn (€8.33bn).Read more

Demand for MNB three-month FX swaps falls after reaching five-month high

Monday 03:25, December 19th, 2011

Demand for three-month floating rate EUR/HUF swaps fell to €160m at the National Bank of Hungary’s weekly tender on Monday after reaching an almost six-month high of €560m at the previous tender.Read more

PSZAF sees domestic savings financing half of early FX repayment scheme

Monday 03:25, December 19th, 2011

Hungarian financial market regulator PSZAF estimates about half of the resources that will be soaked up by a scheme allowing early repayment of foreign currency-denominated mortgages at discounted exchange rates will come from domestic savings while the other half comes from abroad, PSZAF said in risk report for the third quarter published on Monday.Read more

Anti-money laundering compliance bogs down banks

Monday 08:00, December 19th, 2011

The compliance departments of banks are struggling with the challenges of the enormous pressure to reduce costs and the need to fully meet regulatory requirements on combating money laundering. Read more

Investment fund assets fall 6.5% in November

Friday 04:00, December 16th, 2011

Assets in investment funds managed by members of the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSZ) fell 6.5% to HUF 3,306bn in November from the previous month, BAMOSZ said on Friday.Read more

Bank association chairman says agreement to ease Hungary’s Swiss franc debt problem - Reuters

Friday 10:30, December 16th, 2011

The conclusion of an agreement between Hungarian banks and the government on a repayment plan for borrowers with foreign-currency-denominated mortgages on Thursday is expected to significantly alleviate Hungary’s Swiss franc debt problem, Hungarian Bank Association Chairman Patai Mihaly told Reuters.Read more

BUX opens up 0.6%

Friday 10:25, December 16th, 2011

The Budapest Stock Exchange’s blue-chip BUX index opened Friday trade up 0.62% at 17,129.78.Read more

BUX rises 1.5% as fx mortgage-repayment plan lifts OTP Bank to big gain

Thursday 05:25, December 15th, 2011

The Budapest Stock Exchange’s blue-chip BUX index closed Thursday trade up 1.49% to 17,024.43 as an agreement between the government and the Hungarian Banking Association on a repayment scheme for borrowers with foreign-currency-denominated mortgages propelled index heavyweight OTP Bank to a gain of over 6%.Read more