The Bulgarian equity market lost momentum on Monday, sending the main indexes in mixed directions. SOFIX (1 069.46, -0.33%) slipped as weakness in the tech sector, led by Shelly Group (SLYG, EUR 52.80, -0.75%), Sirma Group (SGH, BGN 1.53, -0.65%), and Wiser Technologies (WISR, BGN 5.00, -0.99%), weighed on the benchmark. The broader BGTR30 (946.97, +0.21%) outperformed, supported by Synthetica (SYN, BGN 84.50, +11.18%), which surged after a block trade was registered at BGN 81.00. Tchaikapharma ...
HEADLINES: • Arcelik: 3Q25 – operating recovery overshadowed by loss on bottom line, full-year guidance lowered NEGATIVE • EME Macro/Strategy: macro all-in-one (20-26 October) • DIGI Communications: chooses banks to list its Spanish unit POSITIVE • Titan: Fitch improves outlook to Positive, citing strong financial profile POSITIVE • HELLENiQ Energy: consortium with Chevron wins tender for four new Greek offshore E&P blocks, as expected NEUTRAL • Diagnostyka: CFO steps down NEUTRAL • Mo-BRUK: ann...
HEADLINES: • Polish utilities: a flash in the pan (Enea and Tauron stay HOLD, PGE stays SELL) • Bank Millennium: posts solid 3Q25, all priced in NEUTRAL • Akbank: 3Q25 highlights – no major surprises, but NIM recovery remains slow and 2026E COR guidance appears cautious NEUTRAL • Kety: 3Q25 conference call highlights NEUTRAL • Orange Polska: key takeaways from the 3Q25 earnings call NEUTRAL • Orlen: wins USD 146m from Gazprom POSITIVE • Türkiye macro: CBT delivers 100bps cut, in line with the co...
The Bulgarian equities market extended its midterm uptrend on Tuesday. The major indexes advanced between 0.11% and 0.54%, with SOFIX (1 082.77, +0.54%) leading the gains, driven by Sopharma (SFA, BGN 2.77, +2.21%) and Sirma Group (SGH, BGN 1.51, +1.34%), while Advance Terrafund (ATER, BGN 2.93, -0.34%) weighed on BGREIT (228.64, -0.07%). Bulgarian Stock Exchange (BSE, BGN 11.50, -0.86%) saw cooling demand after its price outpaced the proposed dividend, while Agria Group (AGH, BGN 15.00, -3.85%)...
HEADLINES: • Orlen: makes an offer to buy Grupa Azoty Polyolefins NEGATIVE • VIGO Photonics: 3Q25 sales up 48.5% yoy to PLN 23.3m POSITIVE • Poland macro: August balance of payments data underscores weak exports • Budimex: PLN 2.6bn bid from Budimex's consortium scored highest in the PKP PLK tender POSITIVE • PZU: the new CEO gives one of his first interviews, discussing the potential PZU–Pekao merger NEUTRAL • Sphera Group: Hard Rock Cafe joining the company’s brand portfolio POSITIVE • CEZ: AN...
Cautious sentiment persisted on the Bulgarian equity market on Friday, as investors stayed on the sideline and the main indexes ended the week slightly changed. SOFIX (1 066.39, +0.07%) managed a modest gain, supported by a rebound in First Investment Bank (FIB, BGN 5.24, +1.55%), which helped offset weakness in Wiser Technologies (WISR, BGN 5.45, -2.68%) following the completion of its capital increase. Broader indexes drifted lower, with BGBX40 (193.62, -0.06%) and BGTR30 (946.48, -0.08%) weig...
Brent crude oil prices increased by USD 0.4/bbl vs. the previous month, to USD 67.6/bbl. In August, OPEC production hit its highest level, again, since June 2023, reaching 27.9mbpd. Drone strikes on Russian refineries boosted refinery margins, with our benchmark rising USD 2.0/bbl, to USD 14.7/bbl. Most petrochemicals margins weakened further.
EME Equity Market – September 2025 Romanian BET led in September, while Türkiye and Hungary lagged. The MSCI EM Europe Index added 0.7% mom in EUR terms and 1.1% in USD terms. The Romanian BET was the top performer, adding 3.6% in EUR terms; followed by the Czech PX (+3.2% mom) and the Polish WIG20 (+1.1% mom) (all in EUR terms); while there was a muted performance from the Greek ASE (+0.6% mom in EUR terms). The Turkish ISE30 and the Hungarian BUX were the worst performing indices in September(...
The Bulgarian stock market showed a modest performance over the past week, with all major indexes ending nearly flat on Friday. The benchmark SOFIX edged up by 0.1% to close at 1 066.97, while the other key indexes also finished in positive territory, posting gains between 0.1% and 0.5%. Trading activity remained subdued, as block deals and bond trades contributed to a higher-than-average weekly turnover (+29.34%), despite a significant year-to-date decline in volumes (-71.9%). Gradus (GR6, BGN ...
Three Directors at Echo Investment S.A. sold/bought 29,961,336 shares at 4.620PLN. The significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last...
The Bulgarian equities opened the shorter week on firmer footing, supported by broad-based buying. All major indexes gained between 0.13% and 0.47%, with advancers outnumbering decliners by a 7-to-5 margin. SOFIX was boosted by Bulgarian Stock Exchange (BSE, BGN 9.85, +3.14%), alongside strength in Elana Agrocredit (EAC, BGN 1.06, +1.92%), which rejoined the index, and Advance Terrafund (ATER, BGN 2.96, +1.37%). Additional gains in Stara Planina Hold (SPH, BGN 10.10, +3.06%) and Speedy (SPDY, BG...
Two Directors at Orlen S.A bought 1,200 shares at between 82.610PLN and 83.290PLN. The significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last ...
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