reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 6 April - 9 April 2026
The Bulgarian equity market delivered a relatively calm and subdued performance during the holiday-shortened week, as investors largely chose to remain on the sidelines, refraining from strong, market-driven actions. This lack of enthusiasm was evident across the board and the benchmark SOFIX index edged slightly higher, gaining 0.3% to close at 1 223.17 points. Similarly, the broader indices showed only marginal movements. The extended BGBX40 rose modestly to 211.20 points (+0.2%), while the BG...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 March 2026
Enormous opposite moves of index members lowered SOFIX to 1 213.31 (-0.21%) on Monday. The selling pressure weighed on Central Cooperative Bank (CCB, EUR 1.71, -2.29%) and Shelly (SLYG, EUR 49.80, -1.58%) while Wiser (WISR, EUR 2.10, -4.55%), Chimimport (CHIM, EUR 0.438, -2.23%) and Sopharma (SFA, EUR 1.75, -1.41%) lost altitude without significant daily volume. Sirma Group Holding (SGH, EUR 0.96, +6.67%), Doverie United Holding (DUH, EUR 5.90, +1.72%) and First Investment Bank (FIB, EUR 3.14, +...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 26 March 2026
After several negative trading sessions Wiser (WISR, EUR 2.20, +4.76%) jumped on Wednesday thus pushing SOFIX (1 212.58, +0.73%) to green territory. Doverie United Holding (DUH, EUR 5.90, +1.72%) and Shelly (SLYG, EUR 51.00, +1.59%) also advanced on the back of moderate daily volume while demand for Sopharma (SFA, EUR 1.75, +1.16%) did not find adequate supply and the company registered more than EUR 200K daily turnover. BGBX40 (208.97, +0.92%) jumped the most among local indexes, supported by G...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 March 2026
Quite opposite move of SOFIX (1 210.32, 0.00%) members fixed the main index unchanged on Friday. The jump of Sirma Group Holding (SIRM, EUR 0.915, +3.39%), First Investment Bank (FIB, EUR 3.16, +2.27%) and Sopharma (SFA, EUR 1.715, +2.08%) fully offset the drop of Eurohold (EUBG, EUR 1.03, -6.36%) and Wiser (WISR, EUR, 2.10, -1.87%). The trading session was highlighted by the transfer of 100.8m shares of Gradus (GR6, EUR 0.55, +27.91%) representing 40.9% of the company. BGBX40 (208.17, +0.46%) c...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 March 2026
The equities market reflected the prevailing weekly sentiment, with Friday’s session extending losses across the main indices in a range between 0.37% and 0.67%. The day’s laggards - Sirma Group Holding (SIRM, EUR 1.14, -8.06%), Chimimport (CHIM, EUR 0.436, -4.80%), First Investment Bank (FIB, EUR 3.38, -2.87%) and Wiser Technology (WISR, EUR 2.50, -2.34%) - weighed on SOFIX, which declined by 0.50% to 1 303.59 points, as the latest financial disclosures failed to trigger a positive market react...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 February 2026
The Bulgarian equity market faced mild selling pressure amid widened bid/ask spreads, pushing the main indices into negative territory on the first trading day of the week. Major averages moved largely in tandem with fluctuations across the broader market, with SOFIX (1 353.42) finishing in the middle of the pack, down by 0.69%. EMKA (EMKA, EUR 1.20, -5.51%) and Agria Group (AGH, EUR 5.50, -4.35%) led the session’s decliners, while Sopharma (SFA, EUR 1.90, -2.31%) slipped in the final minutes of...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 February 2026
It appeared that the fresh 18-year highs reached in recent sessions attracted increased profit-taking, as the Bulgarian equity market came under selling pressure on Friday, echoing the cautious sentiment from global markets. SOFIX (1 374.91, -0.76%) closed lower, weighed down by declines in Shelly Group (SLYG, EUR 68.00, -2.30%) and First Investment Bank (FIB, EUR 3.68, -2.13%), despite the absence of any negative surprises in the latest financial disclosures. On a broader base, Eleven Capital (...
- Veselin Radoychev Please Change Surname
Bulgaria Outlook 2026
Global macroeconomic and geopolitical challenges weighed on the Bulgarian economy over the past year, primarily through weaker external trade dynamics. Despite this, economic growth remained solid. Real GDP expanded by 2.8% in Q1, 3.5% in Q2, and 3.0% in Q3, supported almost entirely by strong domestic demand. Several factors underpinned this robust consumption growth with the most important being the growth of compensation and the euro transition effect. For 2026 the projections by major i...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 19 January 2026
The final trading day of the second full week since the adoption of the euro saw the Bulgarian Stock Exchange extend its sharp uptrend, with positive momentum driven primarily by large-cap names within the benchmark index. Friday’s session was once again led by the financial and technology sectors, represented by Central Cooperative Bank (CCB, EUR 1.69, +9.03%) and First Investment Bank (FIB, EUR 3.76, +4.16%), alongside Wiser Technologies (WISR, EUR 2.80, +6.06%) and Shelly Group (SLYG, EUR 63....
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 28 November 2025
The Bulgarian equity market bent under selling pressure on Thursday, as weakness in several standalone names pulled the major indexes into negative territory. Wiser Technologies (WISR, BGN 4.52, -4.24%) and Advance Terrafund (ATER, BGN 2.62, -2.60%) led the declines, weighing broadly on sentiment. At the same time, Sopharma (SFA, BGN 2.72, +1.12%) and Sirma Group (SGH, BGN 1.72, +0.58%) attracted renewed interest after their latest financial results outperformed expectations. Both names were amo...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 November 2025
Trading activity remained subdued on the Bulgarian equity market on Thursday, with all major indexes slipping modestly below their previous levels. SOFIX (1 072.55, -0.21%) absorbed losses in eight of its fifteen constituents, led by Central Cooperative Bank (CCB, BGN 1.66, -2.35%). Support from Eleven Capital (11C, BGN 16.00, +3.23%) and Stara Planina Hold (SPH, BGN 9.85, +2.60%) helped soften the downside pressure on the broader gauges, yet both BGBX40 (193.26, -0.06%) and BGTR30 (946.00, -0.0...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 November 2025
SOFIX (1 067.06, -0.18%) closed slightly negative on the last trading day of the month as opposite move of index members offset each other. First Investment Bank (FIB, BGN 5.06, -3.44%), Smart Organic (SO, BGN 27.60, -1.43%), Sirma Group Holding (SGH, BGN 1.70, -1.16%) and Advance Terrafund (ATER, BGN 2.82, -1.05%) disappointed investors with the release of Q3 financial reports and selling pressure did not find adequate demand. Wiser (WISR, BGN 5.05, +1.81%) also reported loss in Q3 but negative...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 27 August 2025
A block trade and positive sentiment in the end of the trading session lifted Bulgarian Real Estate Fund (BREF, BGN 5.20, +1.96%) while speculative trades fixed Bulgarian Stock Exchange (BSE, BGN 9.35, +0.54%) and Eurohold (EUBG, BGN 1.85, +0.54%) positive. SOFIX (1 068.73) remained unchanged due to the south move of tech companies Shelly (SLYG, EUR 57.00, -0.70%) and Sirma Group Holding (SGH, BGN 1.36, -1.45%). Chimimport (CHIM, BGN 0.725, -2.68%) also plunged on Tuesday on the back of speculat...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 August 2025
SOFIX 1040.03 lost 0.28% on Thursday thus finishing the month in the red zone with moderate daily turnover. Heavy Shelly (SLYG, EUR 49.00, -1.61%) and Eurohold (EUBG, BGN 1.84, -0.54%) suffered from selling pressure and weighed on the main index. Daily loser Telematic Interactive (TIB, BGN 22.40, -2.61%) registered insignificant daily volume and speculative trades fixed the gambling operator in negative territory. Support for the main index came from Chimimport (CHIM, BGN 0.725, +1.40%) and Bulg...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 June 2025
The Bulgarian equity market traded on a positive note throughout Tuesday’s session and the major indexes settled with gains in range between 0.09% and 0.21% while BGREIT (220.06, -0.21%) was an exception once again, following Advance Terrafund’s (ATER, BGN 2.80) slip by 1.06%. The positive bias came from names like Sirma Group (SGH, BGN 1.41, +2.92%), Eleven Capital (11C, BGN 15.50, +2.65%) and Chimimport (CHIM, BGN 0.71, +3.65%). The volumes remained low compared to 3-month average as the inves...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 16 June - 20 June 2025
The Bulgarian stock market did not manage to find support during the past week and indexes finished the week mainly on the red side, as the benchmark SOFIX (1007.57, +0.1%) was the only one in green. Three index members – Shelly Group (SLYG, EUR 50.20, +5.7%), Wiser (WISR, BGN 5.40, +1.9%) and Sopharma Trading (SFT, BGN 5.80, +0.9%) were on the top of the gainers within our list of selected securities. On the other side, Speedy (SPDY, BGN 190.00, -5.0%) and Alcomet (ALCM, BGN 5.95, -4.8%) lost t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 June 2025
Poor trading activity marked the first trading day of the week. The major indexes trended lower from the opening bell as the decliners led the advancers in roughly 4-to-3 margin. Telematic Interactive (TIB, BGN 22.60, +4.63%) and Sirma Group (SGH, BGN 1.44, +1.41%) led the gainers in this trading session, while Bulgarian Stock Exchange (BSE, BGN 9.30, -2.11%) and Speedy (SPDY, BGN 190.00, -5.00%) ended on the opposite side. The daily volumes slipped significantly below the 15-day average as the ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 6 June 2025
SOFIX (1 006.43, -0.33%) retreated on Thursday with heavy selling side. Nine out of fifteen index members closed in the red zone while only Sopharma (SFA, BGN 6.58, +1.23%) finished the day positive. The tech companies weighed the most on the main index as Wiser (WISR, BGN 5.30, - 2.75%) and Sirma Group Holding (SGH, BGN 1.45, -1.36%) faced huge selling pressure. Sellers of Bulgarian Stock Exchange (BSE, BGN 9.50, -2.06%) didn’t find adequate demand and also slipped on the ground of moderate dai...
- Mihail Dimitrov
- Nadejda Dafinkicheva
Weekly bulletin - 27 May - 30 May 2025
The Bulgarian stock market closed the last week on a positive note with the exception of the sector index BGREIT (219.49, -0.6%). The benchmark SOFIX (999.39) was the top gainer with 1.8% rise, reflecting the impressive performance of the index members Bulgarian Stock Exchange (BSE, BGN 9.55, +11.0%), Doverie United Holding (DUH, BGN 9.0, +5.9 %) and high-tech blue chip Shelly Group (SLYG, EUR 45.70, +5.3%). Monbat (MONB, BGN 2.34, -6.4%) was the top loser on our list of selected securities, as ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 June 2025
For a third consecutive trading session SOFIX (1007.26, +0.79%) gained altitude and crossed the resistant level of 1000. Sirma Group Holding (SGH, BGN 1.54, +5.48%) and Shelly (SLYG, BGN 46.90, +2.96%) flew over the day while the most traded name Sopharma (SFA, BGN 6.76, +0.30%) moved slightly North registering a few block trades. Advance Terrafund (ATER, BGN 2.90, -0.68%) and Bulgarian Stock Exchange (BSE, BGN 9.50, -0.52%) booked negative trading days and slipped with insignificant daily volum...
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