The Budapest stock exchange, whose long bull run began to fade in the autumn of last year, surged 1,094 points (+4.96%) to 23,164 on Friday on the back of $227 million in traded volumes. It was the biggest ever increase in the BUX index in a single day.
“In the absence of any major corporate news the huge increase was driven by a great inflow of fresh foreign money into the market,” says a spokeswoman for ING Bank in Budapest. “All blue chips closed with massive gains but the focus was mainly on OTP and Mol as the two stocks accounted for more than 85% of the total market volume.”