reports
- 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...
- 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 - 5 May - 9 May 2025
The Bulgarian stock market finished the last week on an upbeat mode as world markets continued to recover from the sharp pullback during the last months. The positive sentiment pushed the benchmark SOFIX up with 3.7% to settle at 927.04, while all other major indexes closed in green, ranging from 2.8% to 0.1%. The news about starting the procedure for dual listing of Sirma Group Holding (SGH, BGN 1.21, +11.0%) put the company on the top of the gainers in our list of selected securities, followed...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 8 May 2025
The Bulgarian equity market had a mixed showing on Wednesday, though all major indexes registered gains in range between 0.25% and 0.66% led by the tech sector. The news about started procedure for dual listing of Sirma Group (SGH, BGN 1.17, +5.41%) attracted investors and the price quickly reached BGN 1.18 as the optimism spread out and Shelly Group (SLYG, EUR 35.20, +1.44%) met some buying interest too. The trading activity was widely based and the volumes improved significantly compared to pr...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 April 2025
The Bulgarian equity market continued to be sluggish and the main indexed finished with small changes on Wednesday. Shelly (SLYG, EUR 33.70, +1.81%) and First Investment Bank (FIB, BGN 3.98, +1.53%) supported the indexes with moderate buying interest, while Eleven Capital (11C, BGN 13.00, -5.80%) and Agria Group (AGH, BGN 21.60, -3.57%) took over some sell pressure and placed BGTR30 (868.18, -0.36%) on negative territory. The volumes remained low as the trading activity was poor, though block tr...
- 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 - 17 April 2025
The Bulgarian equity market met some low-volume buying interest , which left all major indexes with additional value in the pockets on Wednesday. The positive bias came from Chimimport (CHIM, BGN 0.705, +3.68%), First Investment Bank (FIB, BGN 3.94, +3.68%) and Doverie (DUH, BGN 8.10, +2.02%) for SOFIX (887.19, +0.83%) and Neochim (NEOH, BGN 24.00, +2.56%) and Emka (EMKA, BGN 1.99, +2.05%) for the broad indexes – BGXB40 (170.28, +0.64%) and BGTR30 (868.26, +0.61%). The order book weakened and th...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 7 April - 11 April 2025
The global equity markets recouped some of the recent losses, following the mix of positive and negative headlines, but uncertainty and volatility remained worldwide. The Bulgarian stock market did not manage to find support and indexes finished the week mainly on the red side. The local benchmark SOFIX added 0.4% to settle at 882.88, while the broader BGBX40 (169.02, -0.4%) and BGTR30 (863.70, -2.1%) moved in opposite direction. SOFIX member Sirma Group Holding (SGH, BGN 1.08, +5.9%) and indust...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 April 2025
After the turmoil on the world markets, the Bulgarian stock exchange also registered huge fluctuations and uncertainty which set SOFIX at 873.59 (-0.58%). The US market became a casino with enormous daily fluctuations thus influencing all investors worldwide. Despite moderate financial performance Smart Organic (SO, BGN 26.80, -2.19%), Shelly (SLYG, EUR 32.80, -2.09%) and First Investment Bank (FIB, BGN 3.78, -2.58%) weighed on the main index and fully offset the positive move of Sirma Group Hol...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 9 April 2025
The Bulgarian equity market rebounded on Tuesday by eliminating the previous session decline and all major indexes registered gains in range between 0.39% and 1.79% with BGBX40 (168.21) on top. The positive bias came from moderate-volume trades led by Sirma (SGH, BGN 1.06, +6.00%), Smart Organic (SO, BGN 27.40, +5.38%), Wiser Technologies (WISR, BGN 4.72, +5.36%) and Sofia Commerce (SCOM, BGN 6.80, +7.94%) in widen Bid/Ask spreads. The trading activity was focused on the offer side, though the t...
- 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...
- Research Team
WOOD Flash – Alkaloid AD Skopje/ Hellenic Bank/ ONE United Properties/...
We discontinue our coverage of the following stocks, with immediate effect: Alkaloid AD Skopje Hellenic Bank ONE United Properties Photon Energy Sirma Group Holding Sopharma AD Telecom Egypt We caution against using the forecasts, ratings and price target guidance issued previously on these stocks.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 25 November - 29 November 2024
The Bulgarian stock market managed to end the week slightly lower on Friday, as the benchmark SOFIX (846.60, +0.0%) remained flat, while all other major indexes closed down, ranging from -0.2% to -0.4%. It was another great week for shares of Telematic Interactive (TIB, BGN 20.80, +6.1%), which led the gainers in our list of selected securities, followed by industrial Alcomet (ALCM, BGN 6.80, +4.6%) and Trace Group Hold (T57, BGN 5.65, +2.7%). The decliners led the advancers by 12-to 10, as the ...
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