MOL drop pulls BUX lower as Wall Street also slips

In regular trading on 29 September, the BUX closed at 147,128.86 points, down 1.36%. OTP fell 0.68% to HUF 43,800, MOL declined 3.44% to HUF 5,050, Richter lost 0.56% to HUF 12,330, and Magyar Telekom slipped 0.78% to HUF 2,540. Compared with our Budapest pre-open scenario, all four large-cap shares finished lower; their co-movement does not establish one common cause.

A mixed European close

The DAX rose 0.10% to 25,399.21 points and the EURO STOXX 50 gained 0.30% to 6,320.26. By contrast, the CAC 40 ended 0.53% lower at 8,035.87 and the FTSE 100 fell 0.45% to 10,636.71. The CAC 40 closing page showed the final trade at 18:05 and the previous close at 8,078.48, resolving the overnight draft’s only outstanding European data check.

Wall Street and the Hungarian angle

The S&P 500 fell 0.17% to 7,670.84 points, the Dow Jones lost 0.26% to 51,349.92, and the Nasdaq Composite eased 0.08% to 26,797.54. The Associated Press close report put the 10-year US Treasury yield at 5.25%, while Brent declined 1.70% to USD 96.16. These are market conditions, not proven causes of every index move.

For investors measuring returns in forints, higher US yields can affect both equity valuation and currency-conversion costs, as well as the return measured in HUF. Our JOLTS report already documented softer labor demand. On 30 September at 08:30, the official BEA schedule lists the August PCE release and the third estimate of second-quarter GDP, the next tests for rate expectations.