Budapest Stocks Hit Record High After Election

The Budapest Stock Exchange jumped over 2% to around 136,400 on Monday, hitting a fresh record high as markets welcomed the prospect of sweeping political and economic reforms after Péter Magyar secured a landslide victory.

Early results, with over 98% of votes counted, show the Tisza party on track to win 138 seats, while Viktor Orbán’s Fidesz is projected to secure 55 and the far-right Our Homeland six.

The victory of the pro-European opposition is seen as unlocking billions in EU funding, including around €17 billion in grants and access to low-cost loans for defense spending.

Magyar also said Hungary will reaffirm its role as a strong EU and NATO ally while rebuilding ties with key partners such as Germany and Poland.

Elsewhere, markets continued to assess Middle East tensions following US plans to blockade the Strait of Hormuz after failed US–Iran talks.

Among individual stocks, gains were led by OTP Bank (+2.9%), MOL (+3.7%), Richter (+2.3%), and Magyar Telekom (+2.6%).