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Tuesday, August 4Tuesday, August 4
Trading volumes for companies linked to Hungarian businessman Lőrinc Mészáros surged on Tuesday after a credit downgrade for one of his firms, Opus Global Nyrt., was announced the previous day.
German rating agency Scope Ratings GmbH downgraded Opus Global’s bonds to a non-investment grade category on Monday, citing the company’s reliance on political tailwinds for its past growth. Opus, which participated in a national bank corporate financing bond program, disclosed the downgrade on Monday. Its shares opened at 360 forints that day and closed at 352 forints, a decline of over 2%. The stock had traded above 500 forints a month before the election, dropped to 430 forints the Friday before the vote, and fell to 300 forints the following Monday, according to reports .
On Tuesday, Opus shares traded between 351 and 355 forints in early sessions. Trading volume spiked in the first 20 minutes, with 47,804 shares changing hands—more than double the 30-day average of 22,073 for the same period. By 11 a.m., over 106,000 Opus shares had been traded, though this remained below the 30-day average for a full session .
MBH Bank, another Mészáros-linked company, also saw unusually high trading activity. Two large blocks of shares—290,000 and 100,000—were traded within a minute of each other at 9:56 a.m. By 11 a.m., over 400,000 MBH shares had changed hands, totaling nearly 1.1 billion forints in volume, nearly 30 times the previous day’s average. The bank’s share price fluctuated between 2,660 and 2,720 forints, slightly below Monday’s closing price of 2,720 forints .
The only prior instance of higher MBH trading volume this year occurred on March 31, when 3.2 billion forints worth of shares were traded .
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