reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 April 2024
The Bulgarian equity market started the final session of the week on higher note, building on gains throughout the week. Reloaded buying interest in First Investment bank (FIB, BGN 3.08, +8.45%) and Shelly Group (SLYG, BGN 68.00, +0.59%) provided a boost to the participants, which led SOFIX (818.59, +0.41%) to new 15-years high. The broad indexes BGTR30 (822.07, +0.31%) and BGBX40 (165.97, +0.31%) underperformed the benchmark indexes with significant part of untraded names and expectations for t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 February 2024
Mixed trading session fixed SOFIX (784.03, +0.08%) and BGREIT (191.49, +0.26%) positive while BGBX40 (161.66, -0.11%) and BGTR30 (805.07, -0.01%) closed negative on Wednesday. First Investment Bank (FIB, BGN 2.84, +3.65%), BSE (BSE, BGN 15.35, +2.68%) and Chimimport (CHIM, BGN 0.72, +2.27%) led the daily gainers on the ground of moderate daily volume. The negative impact on SOFIX came from M+S Hydraulic (MSH, BGN 10.30, -1.90%) and Neochim (NEOH, BGN 21.10, -1.86%).
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 2 January - 5 January 2024
All major indexes advanced modestly last week with the exception of BGREIT (192.94, +1.4%), which advanced the most, reflecting the impressive performance of the index member Bulgarian Real Estate Fund (BREF, BGN 2.60, +7.4%). The local benchmark SOFIX added 0.2% to settle at 766.84 as the broad ones - BGBX40 (158.18, 0.2%) and BGTR30 (799.52, +0.0%) finished similar. A total of 14 out of 29 names in our universe finished on green territory last week, 9 weighted on the red side, 6 remained uncha...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 January 2024
The trading entered 2024 on a mixed note with slight advance of the gainers and the major indexes reflected the trading in range between BGTR30 (798.97, -0.06%) and SOFIX (768.87, +0.49%). Shelly Group (SLYG, BGN 48.00, +1.91%) touched record high at BGN 48.60 in early hours and lately settled at lower level as some profit-taking retail went active. Gradus (GR6, BGN 1.40, -6.67%) and First Investment Bank (FIB, BGN 3.00, +2.74%) opposite moves offset each other but the impact came after trades w...
- Research Team
WOOD Flash – Coverage UNDER REVIEW
We are putting our coverage of the following stocks UNDER REVIEW, with immediate effect. We caution against using the forecasts, ratings and price target guidance issued previously on these stocks: Addiko Bank Alro Arion banki Bogdanka Cognor Holding DataWalk Gradus Grenevia Islandsbanki Kety TeraPlast
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 December 2023
The benchmark SOFIX (742.09, +0.15%) remained in green on Thursday, despite of the significant drops in Central Cooperative Bank (CCB, BGN 1.50, -3.23%) and Bulgarian Real Estate Fund (BREF, BGN 2.40, -4.76%). The daily gainers within the index were Sopharma (SFA, BGN 5.78, +1.05%) and Shelly Group (SLYG, BGN 46.70, +1.52%). The trades with Sopharma and Central Cooperative Bank formed more than 70% of SOFIX turnover which remained far below 3-months average numbers.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 27 November - 1 December 2023
The Bulgarian stock market ended last week on a somber note, as investors remained cautious with decreasing activity. The leading local index SOFIX lost 0.4% to close at 745.97 as the broad one BGBX40 (156.98, -0.3%) performed similar, while the sector-specific BGREIT (186.87, -0.8%) lost the most. The weekly top performer within our list of selected companies was Industrial Capital Holding (HIKA, BGN 2.80, +7.7%), followed by Telematic Interactive Bulgaria (TIB, BGN 15.00, +5.6%) and Bulgarian ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 December 2023
Buying activity at lower market levels of the heaviest members of SOFIX (745.97, -0.03%) was the key point for the first monthly trading session. The advance of Chimimport (CHIM, BGN 0.67, +3.08%) was offset by the decline of First Investment Bank (FIB, BGN 2.58, -2.27%), while the volumes were concentrated in Sopharma (SFA, 7.10, -0.28%) and Doverie (DUH, BGN 8.40, 0.00%), which were traded almost without change. Finally the major indexes closed mixed, depending by the weight of large cap names...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 November 2023
The major indexes closed near their lows for the day, registering declines due to weaken buying power. SOFIX (742.57) slipped the most by 0.54% as the daily movers Doverie (DUH, BGN 8.34, -2.34%) and Sopharma Trading (SFT, BGN 5.85, -2.50%) kept the direction till the end of the session. There was an underlying positive bias for Bulgarian Stock Exchange (BSE, BGN 10.85, 0.00%) after the announcement of better than expected financial results, but faded as the session progress. Finally decliners l...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 18 September - 21 September 2023
The Bulgarian stock market edged lower last week, as global investors remained in a cautious mode keeping an eye on signs of prolonged elevation in interest rates. The benchmark SOFIX lost 0.6% to close at 741.15, while the broad ones BGBX40 (156.38, -0.4%) and BGTR30 (781.49, 0.0%) were broadly flat this past week. Losers significantly outnumbered the gainers in our list of selected securities, 12-to-8, while 9 remained unchanged. The top performers were Gradus (GR6, BGN 1.50, +5.6%) and Monbat...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 21 September 2023
The Bulgarian equity market started Wednesday’s session with positive bias as the participants saw some good entry point after latest downtrend and all major indexes rebounded with modest gains. SOFIX (740.06) increased 0.91% and outperformed all major indexes, led by Eurohold (EUBG, BGN 1.80, +2.86%) and M+S Hydraulic (MSH, BGN 11.70, +3.54%) as no fresh news were announced lately. The volumes on the other hand were poor.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 28 August - 1 September 2023
The major indices finished on the positive side last week in range between 0.4% to 2.3% as SOFIX (758.33) outperformed, continuing its uptrend and accumulatively gaining 26.1% since the beginning of the year. The weekly movers were in balance as Speedy (SPDY, BGN 120.00, -4.8%) and Neochim (NEOH, BGN 28.80, -4.0%) led the losers in our watchlist, while Shelly Group (SLYG, BGN 46.40, +6.4%) finished on the top of the list again, followed by Agria Group Holding (AGH, BGN 23.20, +5.0%) as the restr...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 28 August 2023
The Bulgarian equity market settled the session on decidedly upbeat note on Friday, upgrading on previous days’ gains on broad base. SOFIX (741.19) rose 1.06% as Shelly group (SLYG, BGN 43.60, +3.81%) continued to lead the gainers after the announcement of transaction conducted by a related to management person. Being the most weighted member of the benchmark index, Sopharma (SFA, BGN 5.80, +1.40) contributed to the notable increase too, although the volumes were low compared to 3-months average...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 August 2023
Thursday’s session shaped up to be mostly on the positive side, building on yesterday’s gains and all indexes finished on the positive side. SOFIX (733.41) rose 0.41% led by Bulgarian Stock Exchange (BSE, BGN 9.18, +3.15), where the positive bias of 3.15% came after a small trade and recovery of Neochim (NEOH, BGN 29.90, +1.36%) after a positive news for resumed ammonia workshop. The volumes increased significantly compared to 15-day average mainly after the activated buyback procedure of Gradus...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 3 July - 7 July 2023
Dividend distributions and reinvestments, buy-back programs and several insider-trading announcements supported moderate optimism on BSE last week. As such, the blue-chip SOFIX advanced 0.4% WoW to 672.49, while the wider BGBX40 and BGTR30 both added 0.2% WoW to 146.42 and 758.05, respectively. The only decliner amongst the indices was BGREIT (-0.2% WoW; 191.89). On the other hand summer vacations had an adverse effect on liquidity and weekly turnover slowed down by 16% to BGN 6.8m. Industrial c...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 July 2023
The Bulgarian equity market closed yesterday’s session, which marked second half of the year, on a slightly lower note. The major indexes traded around their flat lines during the session and ultimately settled mixed with modest gains and losses. SOFIX (668.79) registered 0.17% decline, pressed by First Investment Bank (FIB, BGN 2.06, -4.63%) and Doverie (DUH, BGN 8.64, -2.70%), which volatility came from widened Bid/Ask spreads. The volumes were naturally lighter as the summer holidays began, t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 July 2023
The last day of the second quarter Bulgarian equity market ended in positive territory for all major indexes as the lead came from mixed names, like Central Cooperative Bank (CCB, BGN 1.56, +2.63%), and less liquid names Zerneni Hrani (ZHBG, BGN 0.13, +4.84%) and Balkan and Sea REIT (BSP, BGN 22.60, +2.73%). SOFIX (669.90) increased 0.16%, additionally supported by Doverie (DUH, BGN 8.88, +1.60%) and Sopharma Trading (SFT, BGN 6.00, +0.84%), while major part of the members remained unchanged. Th...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 June 2023
The Bulgarian stock market had a mixed showing on Thursday as the index level performance was supported by large cap stocks, which recovered from previous day losses, led by First Investment Bank (FIB, BGN 2.16, +3.85%) and Neochim (NEOH, BGN 36.00, +2.86%). BGBX40 (147.41, +0.08%) and BGTR30 (756.03, +0.47%) outperformed SOFIX (675.16, -0.39%) as Stara Planina (SPH, BGN 9.95, +8.34%) and Eleven Capital (11C, BGN 20.40, +2.00%) supported additionally the broad indexes. The daily volumes doubled ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 12 June - 16 June 2023
The Bulgarian stock market had shifted into another gear last week and finished mixed on Friday, balancing after the strong performance from the previous ones. The local benchmark SOFIX increased modestly by 0.2% to settle at 684.87, while the broad ones BGBX40 (149.35, -0.6%) and BGTR30 (757.51, +0.3%) finished on opposite directions. Rising stocks outnumbered the declining ones in our list of selected companies by 14 to 10, 5 ended unchanged. The weekly top performer was Industrial Holding Bul...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 June 2023
The trade on the Bulgarian market was decidedly upbeat on Tuesday as financials were the biggest factor driving the upbeat bias, represented by First Investment Bank (FIB, BGN 2.20, +5.77%), Chimimport (CHIM, BGN 0.78, +4.84%) and Doverie (DUH, BGN 9.08, +2.48%). The indexes closed near to their best levels of the day, paced by SOFIX (690.42, +0.85%), which touched record high for the last five years. The volumes within the benchmark index also followed an uptrend line, doubling the 15-day avera...
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