Weekly Bulletin - 27 January - 31 January 2020
All local indexes slipped over the past week with 2.4x higher weekly turnover than the average YTD. The benchmark index SOFIX shrank most, as it declined 1.2% to 575.87 points, BGTR30 and BGBX40 lost 0.5% and 1.0% to 522.83 and 113.20, respectively, and BGREIT also decreased 1.0% to 133.73. The top declines within our universe were by Neochim (3NB, BGN 15.50, -8.8%), presumably on published unsatisfactory financial results, followed by Industrial Capital Holding (4I8, BGN 1.91, -7.3%), which also booked weaker Q4’19 profitability, despite stronger performance of its largest subsidiaries M+S Hydraulic (5MH, BGN 6.15, -1.6%) and EMKA (57E, BGN 2.40, 0.00%). On the positive side, top gainer was Speedy (0SP, BGN 55.00, +10.0%), which published BGN 3.5 Q4‘19 preliminary individual EPS (+53% YoY), with next being Stara Planina Hold (5SR, BGN 5.15, +3.0%). The most traded within our universe were Eurohold Bulgaria (4EH, BGN 1.52, +0.7%), First Investment Bank (5F4, BGN 3.24, -5.3%), and Doverie United Holding (5DOV, BGN 6.00, +2.6%), which made up 5.9%, 2.4% and 1.6% of the total weekly turnover on BSE, respectively. There was substantial traded volume with Compensation Notes (BLKD, BGN 0.21, +2.4%), as almost 2.5m units changed hands in a single trade on Thursday.
First Financial Brokerage House (FFBH) is a leading non-banking financial institution on the Bulgarian capital market. Founded in 1991, FFBH offers the complete spectrum of investment banking services spanning corporate finance, privatisation advisory, mergers and acquisitions, financial consulting, brokerage services, research & analysis and asset management.
FFBH provides its services mainly to major international banks and corporations seeking investment in Bulgaria. FFBH is not only local contractor and partner to its clients but also an information source and provider for all major news and events in the economic and political life of the country.
We are the main contact point for the large majority of foreign and local institutional investors in the Bulgarian equity market. FFBH is providing access to the Bulgarian Stock Exchange by either its highly experienced sales trading desk or by order routing across the Bloomberg network.
Additionally, FFBH is offering a range of tools, specifically tailored for the retail investor. Both domestic and international markets are only a click away, via electronic trading solutions. As a major advantage, our customers are able to benefit from the broad range of Analysis & Research products with premium quality, provided by our team of dedicated analysts.
Clients of our research products are most of the largest foreign and local institutional investors looking for opportunities in Bulgaria. More than 100 investment banks, investment funds and other institutional investors use our Equity research and Economic review on a regular basis. FFBH’s Morning Bulletin and Weekly Bulletin reach more than 300 clients over different countries and continents.
Our major Research and Analysis Services include:
- Semi-Annual Outlook of the Bulgarian economy and the domestic capital markets;
- Equity analyses of the biggest and/or most liquid companies listed on Bulgarian Stock Exchange - Sofia;
- Quarterly Bulgarian Real Estate sector and REITs overview;
- Quarterly Bulgarian Banking System overview;
- Quarterly macroeconomic overeview, with details on the major economic sectors, commentaries, and statistical indicators;
- Daily and Weekly bulletins, including an overview of the capital markets and the most important macroeconomic & corporate events.
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