reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 January 2026
Increased volatility continued to favour speculative trading on the Bulgarian Stock Exchange, though names such as Sirma Group (SGH, EUR 1.31, -4.38%), BSE (EUR 7.70, -4.35%) and Doverie (DUH, EUR 8.14, -3.10%) moved in the opposite direction and smoothed the daily outcome for the major indexes. SOFIX (1 371.70) advanced modestly by 0.17%, led by financials - First Investment Bank (FIB, EUR 3.84, +4.92%) and Central Cooperative Bank (CCB, EUR 1.22, +12.96%). On a broader basis, Sopharma Trading ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 December 2025
The overall trading activity weakened, and a few standalone names defined Wednesday’s session on the Bulgarian market. Doverie (DUH, BGN 9.98, +4.83%) attracted renewed buying interest after the release of positive financial data, while Shelly Group (SLYG, EUR 54.20) came under selling pressure and ended with a 2.52% decline, weighing on the major indexes – SOFIX (1 088.12, -0.13%) and BGBX40 (195.06, -0.20%). Sopharma (SFA, BGN 2.73) continued to contribute meaningfully to turnover, although it...
- 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 - 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 - 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
Morning Bulletin - 28 May 2025
The Bulgarian equity market finished a volatile session on firmly higher note with SOFIX (995.81, +1.45%) on its way to 1000 points, followed by BGBX40 (185.17, +1.01%) and BGTR30 (926.39, +0.46%) in the first trading day of the week. Bulgarian Stock Exchange (BSE, BGN 9.30, +8.14%), Shelly (SLYG, EUR 46.00, +5.99%) and Sopharma (SFA, BGN 6.68, +2.14%) began on a high note and steady added to their gains as the session carried on, though Sirma Group (SGH, BGN 1.40) and Smart Organic (SO, BGN 32....
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 22 April - 24 April 2025
The Bulgarian stocks ended the week with no clear direction, while the world equity markets recorded a relief rally, easing some of the growing tension over the past months and moving away from extreme pessimism. The leading local benchmark SOFIX added 0.3% to settle at 888.88, as all other major indexes kept to wider range from -0.2% to 0.8%. The industrial M+S Hydraulic (MSH, BGN 9.6, +4.9%) and the SOFIX member Sirma Group Holding (SGH, BGN 1.09, +3.8%) were on the top of the gainers in our l...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 28 April 2025
The investors on the Bulgarian stock exchange remained in the “wait and see” mood and light volume trades defined the positive outcome for the main indexes. SOFIX (888.88) won 0.31%, led by the sharp move of Smart Organic (SO, BGN 30.40, +7.04%) and Bulgarian Stock Exchange (BSE, BGN 7.65, +1.32%). BGREIT (214.31, -0.15%) alone booked a loss as the negative price actions in Advance Terrafund (ATER, BGN 3.06, -1.29%) reflected on the REIT index. Trading activity was poor and the volumes continued...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 April 2025
The Bulgarian equity market had a quiet start of the short week with less enthusiasm and poor trading activity. Neochim (NEOH, BGN 24.60, +5.13%), Sirma (SGH, BGN 1.08, +2.86%) and Smart Organic (SO, BGN 28.00, +1.45) were the leading names among gainers, though all major indexes settled on the negative side – SOFIX (880.53%, -0.60%) , BGBX40 (169.12, -0.49%) , BGTR30 (864.88, -0.11%) and BGREIT (214.10, -0.25%), as the negative price actions in First Investment Bank (FIB, BGN 3.80, -6.40%), Syn...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 14 April - 17 April 2025
The Bulgarian stocks marked a mixed week, as during the four trading days, the local benchmark SOFIX added 0.4% to settle at 885.82. The broader BGBX40 (169.95, +0.5%) and BGTR30 (865.83, -1.8%) ended in opposite directions. In this shortened trading week the turnover barely reached 49% of its YTD average, while block deal with one illiquid name pushed the volumes (+186.9% YTD avg.) to an unusual level. The weekly top performers within our selected companies were Trace Group Hold (T57, BGN 6.0, ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 April 2025
The Bulgarian equity market slipped right out of the gate on Easter Holidays and the main indexes booked some losses. Decliners like Chimimport (CHIM, BGN 0.685, -2.84%) and Sirma Group (SGH, BGN 1.05, -2.78%) prevailed the advancers by 2-to-1 margin and ranked the main indexes as follows SOFIX (885.82, -0.15%), BGBX40 (169.95, -0.19%) and BGTR30 (865.83, -0.28%). First Investment Bank (FIB, BGN 4.06, +3.05%) and Smart Organic (SO, BGN 27.60, +1.47%) finished on the opposite side but the trading...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 April 2025
Opposite and very rapid moves of index members set SOFIX (902.65, -0.06%) almost unchanged on Wednesday. Doverie United Holding (DUH, BGN 8.10, +1.25%) jumped to BGN 8.36 in the early trading session but profit taking pull back the holding at the end of the day. Speculative trades lifted Sirma Group Holding (SGH, BGN 1.11, +1.83%) with insignificant daily turnover while Eurohold (EUBG, BGN 1.90, -0.52%) registered block trade with 114K shares. Chimimport (CHIM, BGN 0.735, -2.00%) and First Inves...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 10 March - 14 March 2025
The Bulgarian stock market remained volatile over the past week, as the benchmark SOFIX dropped 0.8% and all other major indexes closed down, ranging from -0.5% to -1.4%. The trading activity was weak, as block deals with some unpopular names boosted the volumes (+105.1% YTD) and the turnover (+51.6% YTD) higher than average numbers. The worst performer in our list of selected securities was Telelink Business Services Group (TBS, BGN 9.65, -12.3%), followed by SOFIX members Agria Group (AGH, BGN...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 March 2025
The trading activity was narrowly ranged on Friday, which provided mixed outcomes for the main indexes. SOFIX (896.14, -0.04%) and BGREIT (214.69, -0.27%) dove even more in this trading session as Bulgarian Real Estate Fund (BREF, BGN 4.14, -0.96%) and Advance Terrafund (ATER, BGN 3.21, -0.31%) weighed on the index’s performance. Some light-volume price actions with Synergon (SNRG, BGN 0.995, +13.07%), Zarneni Hrani (ZHBG, BGN 0.13, +4.84%) and M+S Hydraulic (MSH, BGN 9.55, +4.37%) provided supp...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 March 2025
The Bulgarian market had a rough showing on Friday though the initial selling pressure in the early hours was replaced by more optimistic price actions at the end on the session. The major indexes settled mixed as Agria Group (AGH, BGN 20.40, -2.86%) and the heavy member Shelly Group (SLYG, EUR 37.50, -0.53%) weighed on the indexes, while M+S Hydraulic (MSH, BGN 9.35, +2.19%) and Smart Organic (SO, BGN 26.20, +2.34%) recovered the losses on the opposite side. SOFIX (904.25, -0.13%) slipped below...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 17 February - 21 February 2025
The Bulgarian stock market ended the week mixed, as the main indexes followed the global mood and recorded a strongly negative Friday trading session. The local benchmark SOFIX lost 0.5% to settle at 892.61, while the broad ones BGBX40 (171.40, -0.3%) and BGTR30 (862.12, +0.2%) closed in opposite directions. The industrial M+S Hydraulic (MSH, BGN 9.40, +4.4%) was the top gainer within our list, followed by SOFIX members Chimimport (CHIM, BGN 0.72, +2.9%) and Shelly Group (SLYG, EUR 37.20, +2.5%)...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 20 February 2025
The positive sentiment raised SOFIX to 902.19 (+0.58%) on Wednesday. The main index crossed psychological level of 900 for a third time this year on the back of Advance Terrafund (ATER, BGN 3.24, +2.86%), Chimimport (CHIM, BGN 0.71, +2.16%) and First Investment Bank (FIB, BGN 3.90, +1.04%). Negative impact on SOFIX came from Bulgarian Real Estate Company (BREF, BGN 4.12, -0.48%) driven by small speculative trades. Liquidity remained low as most of investors are awaiting the release of Q4 2024 co...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 November 2024
The Bulgarian equity market closed the week lower, erasing all gains registered during the week. The negative price actions with heavy members like Sopharma (SFA, BGN 5.60, -2.78%), Doverie (DUH, BGN 8.00, -2.68%) and Shelly (SLYG, EUR 34.00, -1.16%) defined the daily performance and the major indexes booked losses. The moving average of SOFIX (846.41) continued to narrow the range as the benchmark index closed 0.66% lower, followed by the broad indexes BGBX40 (166.48, -0.39%). The daily turnove...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 11 November - 15 November 2024
This past week, Bulgarian stock market gave back some of the modest gains from the previous ones. The local Benchmark SOFIX lost 0.7% to settle at 853.51, as all the other major indexes closed down, ranging from 0.8% to 0.3%. For a second consecutive week the manufacturer of fertilizers and nitrogen compounds Neochim (NEOH, BGN 29.00, +11.5%) led the list of gainers in our list of selected securities, followed by Telematic Interactive (TIB, BGN 22.40, +3.7%) and Central Cooperative Bank (CCB, BG...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 November 2024
The enthusiasm on the Bulgarian market weakened on Wednesday and SOFIX (852.98, -0.48%) landed in red. Almost half of the index turnover came from Eurohold Bulgaria (EUBG, BGN 1.45, -2.03%), while the otherwise lack of investor’s interest activity left the turnover unimpressive. The daily gainers within SOFIX were Sirma Group Holding (SGH, BGN 1.05, +2.94%) and Chimimport (CHIM, BGN 0.70, +1.45%). First Investment Bank (FIB, BGN 3.82, -2.55%), Eurohold Bulgaria and Bulgarian Stock Exchange (BSE,...
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