reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 June 2024
The major indexes saw some choppy actions on the Bulgarian equity market on Friday, which turn to be the last day of the month as the widened Bid/Ask spreads allowed retail to dictate the moves. The bank sector, represented by First Investment Bank (FIB, BGN 4.56, +4.11%) and Central Cooperative Bank (CCB, BGN 1.67, +2.45%), once again led the gainers in this session, while the fluid power manufacturer M+S Hydraulic (MSH, BGN 11.20, +5.66%) big upside move was another support factor. Eurohold (E...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 20 May - 23 May 2024
The Bulgarian stock market kept its positive momentum from the recent weeks and managed to end the last one on the green side as investors remained active in some particular positions like Shelly Group (SLYG, BGN 74.80, +3.8%). At the close in Sofia the benchmark SOFIX added 1.2% to settle at 866.45, while the broad ones BGBX40 (172.29, 0.7%) and BGTR30 (859.84, +0.2%) showed more modest increase. The advancers outnumbered the decliners in our list of selected companies by 11-to-10 as the top pe...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 May 2024
SOFIX (868.11, -0.36%) retreated on Wednesday, reflecting the drop of M+S Hydraulic (MSH, BGN 10.80, -5.26%), Chimimport (CHIM, BGN 0.74, -3.90%) and First Investment Bank (FIB, BGN 4.70, -2.89%). Support for the main index came from Eurohold (EUBG, BGN 1.54, +2.67%) and Agria (AGH, BGN 23.50, +2.62%). Overall liquidity remained good but retail investors dominated the market and daily turnover of SOFIX reached BGN 0.69m.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 21 May 2024
SOFIX (863.01, +0.82%) logged another 15-years record high supported by the financial sector on Monday. The broad indexes BGBX40 (171.92, +0.47%) and BGTR30 (860.42, +0.31%) underperformed under the weight of the losses of Eleven Capital (11C, BGN 18.40, -2.65%) and Monbat (MONB, BGN 3.10, -2.52%), while First Investment Bank (FIB, BGN 4.44, +1.83%) slipped to BGN 4.04 on the opening bell but at late hours new buying power changed the final outcome. The volumes slipped much lower than the 15-day...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 7 May - 10 May 2024
The local stock market gained steam last week and ended on a positive note, as investors kept the positive sentiment in some particular positions and supported the indexes. The local benchmark SOFIX added 3.0% to settle at 837.99, , reflecting the impressive performance of the index members First Investment Bank (FIB, BGN 3.88, +25.2%), Sirma Group Holding (SGH, BGN 0.83, +13.8%) and Chimimport (CHIM, BGN 0.76, +11.9%), that formed the top three in our list of selected companies. A total of 20 o...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 13 May 2024
The Bulgarian equity market ticked higher on Friday with major indexes rewriting the record highs they posted previous day. SOFIX (837.99) settled 0.61% higher as the positive sentiment seized more names on broad base, like Agria Group (AGH, BGN 20.40, +3.82%), Albena (ALB, BGN 26.80, +3.08%) and Neochim (NEOH, BGN 19.80, +7.03%). First Investment Bank (FIB, +6.01%) touched BGN 4.04 level but lately retreated to BGN 3.88 while remaining the daily mover within the benchmark. The volumes slipped s...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 April 2024
The Bulgarian equity market declined on the first day of the abrupt short week as all major indexes settled in range between negative 0.60% and negative 0.33%. The equites quickly moved lower facing the profit taking retail in First Investment Bank (FIB, BGN 2.90, -5.84%), Sirma Group (SGH, BGN 0.725, -2.68%) and Neochim (NEOH, BGN 18.80, -3.59%). The downside was short-lived as the participants were limited, which reflected in low volumes and only half of the 3-months average turnover.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 15 April - 19 April 2024
Bulgarian stock indexes ended last week on a negative note, after the tone in global markets seems to have shifted with continuing uncertainty and volatility. The leading local index SOFIX lost 0.5% to close at 805.96, as extended indexes BGBX40 (164.27) and BGTR30 (809.49) declined by -0.5% and -0.8% respectively, repeating benchmark presentation. The weekly top performer within our list of selected companies was the industrial Alcomet (ALCM, BGN 7.0, +7.7%), followed by Speedy (SPDY, BGN 165...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 19 April 2024
Four index members, out of fifteen, changed their value and SOFIX (807.23, +0.23%) closed positive on Thursday. M+S Hydraulic (MSH, BGN 11.10, +1.83%) and Shelly (SLYG, BGN 67.80, +1.19%) advanced while Chimimport (CHIM, BGN 0.685, -2.14%) and Elana Agrocredit (EAC, BGN 1.09, -0.91%) dropped during the trading session. BGBX40 (164.71) added 0.15%, BGTR30 (815.90) slipped by 0.06% while BGREIT (191.64) remained unchanged.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 March 2024
The Bulgarian equity market had a mixed performance on Wednesday and the main indexes slightly slipped reflecting aggressive retail sellers and low volume trades in widened Bid/Ask spreads. SOFIX (809.41, -0.09%) and the broad indexes BGBX40 (165.31, -0.08%) and BGTR30 (810.08, -0.29%) logged declines, while BGREIT (189.88, +0.11%) closed with a gain. The afternoon trade witnessed some sale actions on Neochim (NEOH, BGN 20.50, -3.30%), M+S Hydraulic (MSH, BGN 10.80, -2.70%) and Sopharma (SFA, BG...
- Veselin Radoychev Please Change Surname
Banking System Overview 2023
ANOTHER RECORD YEAR WITH 64% YOY GROWTH OF NET INCOME, FUELLED BY THE RISE OF INTEREST RATES ON BUSINESS LOANS 2023 numbers show 64.4% YoY (+BGN 1.3bn) growth of net income to BGN 3.4bn, marking the best year in history. The 50.2% YoY (+BGN 1.6bn) growth of net interest income was the main reason for the improved financials. 12-m trailing ROE of the banking system continued improving for a twelfth consecutive quarter to 18.5% from 12.4% at end of 2022. The breakdown by banks reveals that...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 March 2024
Green Thursday raised SOFIX to 788.42 (+0.56%). Heavy Sopharma (SFA, BGN 6.16, +2.67%) and Eurohold (EUBG, BGN 1.30, +0.78%) supported the main index and offset the drop of Chimimport (CHIM, BGN 0.706, -1.94%), Sopharma Trading (SFT, BGN 5.60, -1.75%) and First Investment Bank (FIB, BGN 2.80, -1.41%). After several negative trading sessions, M+S Hydraulic (MSH, BGN 10.80, +4.86%) recovered on Thursday. Daily gainer Monbat (MONB, BGN 3.78, +5.00%) jumped without significant daily volume and big b...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 05 February - 09 February 2024
The Bulgarian stock market ended the week mixed on Friday, as the local benchmark SOFIX added 0.1% to settle at 781.02, while the broad ones BGBX40 (161.99, +0.5%) and BGTR30 (802.18, -0.5%) ended in opposite directions. The weekly top performer within our list of selected companies was First Investment Bank (FIB, BGN 2.68, +11.7%), followed by Telematic Interactive (TIB, BGN 15.20, +10.1%) and Stara Planina Hold (SPH, BGN 10.80,+5.9%). On the red side the list started with Alcomet (ALCM, BGN 6...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 8 February 2024
The Bulgarian equity market registered volatile session with mixed results for the main indexes mostly caused by low-volume trades in widen Bid/Ask spreads. SOFIX (781.87) rebounded by 0.52% driven by the positive reaction of the investors from the latest news about First Investment bank (FIB, BGN 2.86, +23.28%) and interrupted 6-days down-trend, while the losses of Neochim (NEOH, BGN 21.80, -9.17%), Doverie United Holding (DUH, BGN 8.88, -3.06% ) and Sirma Group (SGH, BGN 0.715, -3.38%) placed ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 29 January - 02 February 2024
Few companies from the industrial sector registered significant increase last week and led weekly gainers. Industrial Holding (IHB, BGN 1.90, +12.4%), Industrial Capital Holding (HIKA, BGN 3.06, +4.8%) and M+S Hydraulic (MSH, BGN 11.20, +2.8%). The Banking sector weighted on the market and all local indexes closed on the negative territory. Rumors about First Investment Bank (FIB, BGN 2.40, -26.4%) pushed the bank’s shares down followed by Central Cooperative Bank (CCB, BGN 1.53, -5.0%). SOFIX...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 February 2024
Turbulence shook SOFIX (783.52, -0.40%) on Thursday. First Investment Bank (FIB, BGN 2.44, -21.79%) crashed after the release of negative news. Chimimport (CHIM, BGN 0.704, -4.09%) and BSE (BSE, BGN 14.00, -1.06%) also suffered from selling pressure and weighed on the main index. Expected dividend payment from the Moldavian bank pushed Doverie (DUH, BGN 9.14, +2.24%) up while Eurohold (EUBG, BGN 1.36, +3.85%) and M+S Hydraulic (MSH, BGN 11.20, +3.70%) advanced on the back of speculative trades.
- 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
Morning Bulletin - 31 October 2023
The major indexes closed near their best levels of the day with gains ranging from 0.06% to 0.15% on Monday. SOFIX (747.86) ended on a higher note, continuing its five day uptrend in a row by adding 0.11%. The positive bias came from Bulgarian Stock Exchange (BSE, BGN 11.25, +2.74%) and Trace Group (T57, BGN 3.00, +6.77%) jumps, while other movers of the day - Alcomet (ALCM, BGN 7.55) and Monbat (MONB, BGN 4.14) lost 3.21% and 2.36%, respectively. A new block trade with Rodna Zemya (HRZ, BGN 2.9...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 16 October - 20 October 2023
This past week, the local stock market remained under pressure in a turbulent global conditions. At the close in Sofia the benchmark SOFIX lost 1.1% WoW to close at 741.92 as the broad BGBX40 (156.93) performed similar and dropped 0.7%, while the sector index BGREIT 188.77(+0.7%) managed to finish on green. The weekly top performer within our list of selected companies were Bulgarian Stock Exchange (BSE, BGN 10.55, +7.0%), Advance Terrafund (ATER, BGN 3.29, +5.4%) and Telematic Interactive (TIB,...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 October 2023
The Bulgarian stock market ended on a negative side on Friday, as investors’ activity remained unimpressive. The major indexes all closed in red, as the benchmark SOFIX (741.92) declined 1.10%, mainly due to a significant drop in Eurohold Bulgaria (EUBG, BGN 1.70, -5.03%). A block trade with Eurohold lifted the index turnover, reaching 155% of the 3-months average numbers. The top gainer within the index was Bulgarian Stock Exchange (BSE, BGN 10.55, +3.94%), while EUBG and Shelly Group (SLYG, BG...
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