Budapest Stock Exchange takeover officially confirmed

Old BSE headquarters, Budapest, Hungary (Dezidor, CC BY)

CEE current account balance.

Romanian VAT is one of the highest.

Thousands jobs to be offered in Lithuania.

Hungary

The National Bank of Hungary (MNB) officially informed that on November 20th a contract has been signed upon which the central bank acquires 68.8 per cent of Budapest Stock Exchange (BSE) shares from CEE Stock Exchange Group (CEESEG) and Oesterreichische Kontrollbank AG (OKAG).

CEE Stock Exchange Group (CEESEG) until now was the biggest shareholder of BSE. It is the largest stock exchange group in the Central and Eastern Europe that owns four stock exchanges – in Budapest (Hungary), Ljubljana (Slovenia), Prague (Czech Republic) and Vienna (Austria). It had 50.46 per cent of shares. The second important shareholder was Oesterreichische Kontrollbank AG (OKAG) with 18.35 per cent of shares. MNB held only 6.9 per cent. >>read also

MNB did not comment on the purchase price. Hungarian media speculated – online napi.hu reported it could reach HUF13.2bn. “The price was based on the evaluation of an internationally respected advisor, and reflects the nearly 47 per cent stake the Budapest Stock Exchange holds in the Hungarian central clearing house and depository Keler as well”, Budapest Business Journal cites MTI agency. “Legally, MNB is required to make a public purchase offer anyway at least at the price paid in the deal because it surpassed the 75% threshold”, MTI adds.

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CEE current account balance

The EU28 seasonally adjusted external current account recorded a surplus of EUR15.9bn in September 2015, compared with a surplus of EUR13.8bn in August 2015 and a surplus of EUR10.9bn in September 2014 – reads the Eurostat report. Those are the numbers for the whole European Union. Below are results of the CEE countries.

current-account

(infographics Dariusz Gąszczyk)

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Romania

The general VAT rate in Romania, which is now 24 per cent, is one of the highest at the global level. After the country lowers it to 20 per cent from the beginning of 2016, will still remain in the first fifth of the global ranking. According to KPMG survey, the first in rank is Hungary with a VAT rate of 27 per cent. Polish VAT rate is 23 per cent.

“At the opposite end, the 16 per cent flat tax on corporate profits and individual income places Romania among countries with the lowest level of taxation”, Romania Insider writes.

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Lithuania

The number of registered job vacancies in Lithuania reached 14.200 at the end of Q3’2015. It’s up 21.7 per cent (plus 2.500 vacancies) y/y. The Statistics Lithuania reported that most of jobs are being offered in the industry (22.9 per cent of all jobs), in trade (16.4 per cent) and in public administration, defense and social insurance (11.5 per cent). In Q2’2015 there were 13,400 vacancies, and in Q1’2015 13,100.

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What’s up in indexes?

BUX (of Budapest) lost 0.38 per cent cent on Tuesday, November 24th. It decreased from 23485.90 index points to 23396.87 index points. From year-end it’s up 40.66 per cent.

BET (of Bucharest) decreased from 7291.97 index points to 7251.76 index points, dropping by 0.55 per cent. From year-end it’s up 2.38 per cent.

PX (of Prague) dropped by 1.65 per cent – decreasing from 999.59 index points Monday to 983.10 index points Tuesday. From year-end it’s up 3.84 per cent.

WIG20 (of Warsaw) fell by 1.95 per cent. On Tuesday it closed at 1943.99 index points while Monday’s close was at 1982.57 index points. From year-end it lost 16.06 per cent.

OMXT (of Tallinn) also dropped a bit, by 0.03 per cent. It fell from the level of 879.49 index points (Monday) to 979.23 index points (Tuesday). From year-end it’s up 16.45 per cent.

OMXR (of Riga) lost 0.75 per cent falling from 596.34 index points Monday to 591.88 index points Tuesday. From year-end it’s up 45.06 index points.

OMXV (of Vilnius) dropped by 0.02 per cent – falling from 484.61 index points Monday to 484.51 index points Tuesday. But from year-end it gained 7.09 per cent.

SAX (of Bratislava) also ended down (minus 1.01 per cent). It closed at 299.75 index points while the previous close was at 302.80 index points. From year-end it’s up 34.83 per cent.

SOFIX (of Sofia) dropped by 0.79 per cent – closing at 440.11 index points Tuesday compared with Monday’s 443.60 index points. From year-end it dropped by 15.70 per cent.

UX (of Kyiv) grows and grows. This time it’s up 1.29 per cent. It rose from 714.26 index points Monday to 723.45 index points Tuesday. But from year-end it’s still not good – it lost 29.99 per cent.

CROBEX (of Zagreb Stock Exchange) fell from 1686.61 index points to 1675.63 index points (Tuesday), dropping by 0.65 per cent d/d and 4.00 per cent from year-end.

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