The Hungarian stock market is falling, OTP has been hit

The Hungarian stock market opens with a fall, BUX started the day with a 1 percent drop. Of the blue chips OTP’s shares perform the weakest, the bank paper is down 3 percent, while Mol rises by 0.4 percent. Richter fell by 0.3 percent, Telekom by 0.1 percent.

What are the current events on the stock exchanges?

• The leading US stock indexes closed mixed yesterday, the Dow Jones was down 0.9 percent, the S&P 500 ended the day down 0.7 percent, while the Nasdaq ended the day up 0.4 percent.
• The Asian stock markets are showing a positive mood this morning, the Nikkei fell by 2.04 percent, the Hang Seng is down by 2 percent, while the CSI 300 rose by 0.15 percent.
• However, the European stock markets may already rise on Thursday morning, based on the future stock indices, the DAX may rise by 1.42 percent, the CAC may open with a gain of 1.23 percent, while the FTSE may rise by 0.8 percent.

• The reason behind the jump may be that Credit Suisse, the major Swiss bank, announced on Thursday that it will take a $54 billion loan from the Swiss central bank to bolster liquidity and investor confidence after a plunge in its shares fueled fears of a global banking crisis.

• The American futures stock indexes are forecasting a rise at the market opening, the Dow Jones may rise by 0.01 percent, the S&P 500 may open with a gain of 0.06 percent, while the Nasdaq may rise by 0.14 percent.

What can be expected on the macro front?

Today in the USA, housing construction permits are announced, which is important from the point of view of monetary policy. However, it is a much more important event ECB interest rate decision meeting. You should also pay attention to the press conference that follows, as President Lagarde may say something about the central bank’s plans for the next meetings.

What has happened on the stock markets so far?

• Among the leading American, Asian, European and regional stock indexes this year, the Nasdaq index is at the top with a 12.0 percent shift, while the BUX index is the driving force with a 4.5 percent drop.
• Magyar Telekom’s share performed the best among domestic blue chips this year with a 14.2 percent increase, and Richter’s paper is at the bottom of the list with an 11.4 percent fall.
• Among the most important raw materials, the price of gold has risen by 6.3 percent since the beginning of the year.

Cover image source: xPACIFICA