Equity 3 June 2019, 2:03pm

Here's the latest ranking of Hungarian brokerages

Portfolio

There was a correction on stock exchange around the world in May, and the Budapest Stock Exchange (BSE) was no exception, and the share price of all four blue chips there fell. Turnover picked up, at least compared to April and May ended up as the month with the second-highest turnover this year. As regards the rankings of brokerages, the ‘battle’ between Wood and Concorde was win by the former this time.

In deteriorating international sentiment, May brought about a correction on the Budapest Stock Exchange (BSE); all four blue chips suffered smaller or greater losses. Mol got away with a moderate 1% loss, whereas Richter and Magyar Telekom shed more than 8%, and OTP finished 5% lower compared to the end of April.

Turnover rose sharply on the BSE compared to April. The duplicated turnover in May amounted to HUF 520.6 bn, up 63% over April, and the second-highest recorded this year. Yet, this marks an 8% year-on-year decline. Daily average turnover was HUF 11.8 bn in May, considerably more than in April (less than HUF 8 bn).

OTP contributed more than half of total turnover in May, whereas Mol had a 23% share, Richter slightly more than 16% and Magyar Telekom no more than 2%.

As for the brokerages, Concorde and Wood have been neck and neck for months, and Wood has come out victorious this time, with HUF 138 bn duplicated turnover, which secured it a 26.5% market share. Concorde is merely HUF 4 bn behind in the second place, with 25.8% market share.

Erste is on the third spot with HUF 118 bn. The turnover of both Concorde and Wood declined compared to a year earlier; the drop recorded at Concorde was nearly 20%. Erste, however, booked quite a large increase in its turnover, 40% over the base period to be exact.

Turnover generated by Equilor, which was on the fourth spot in April, declined considerably and it finished on the 8th place in May, as its turnover contracted by 70% year on year.