reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 28 August 2024
It was a downbeat day on Tuesday and the major indexes lost in range between 0.93% to 0.39%. The negative price actions were driven by consolidated activity after the registration of new 15-year highs by the indexes on Monday. SOFIX (864.88) slipped the most by 0.93%, led by M+S Hydraulic (MSH, BGN 9.00, -5.26%), Bulgarian Stock Exchange (BSE, BGN 8.00, -4.76%) and Central Cooperative Bank (CCB, BGN 1.68, -2.33%) losses. Volume was traditionally for the season below-average again as only the blo...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 July 2024
Positive start of the week raised SOFIX to 864.29 (+0.24%). Poor liquidity and big bid/ask spreads allowed huge fluctuations without significant daily volume. Shelly Group (SLYG, BGN 37.60, +3.87%) and Chimimport (CHIM, BGN 0.765, +2.00%) rose without corporate news while small speculative trades pushed down Doverie United Holding (DUH, BGN 8.50, -1.85%), Eurohold (EUBG, BGN 1.49, -1.32%) and Sirma Group Holding (SGH, BGN 1.14, -0.87%). Bulgarian Real Estate Fund (BREF, BGN 2.64, +0.76%) offset ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 22 July - 26 July 2024
The Bulgarian stock market ended the week mixed, lacking investor interest in the middle of the summer and trying to digest the outgoing corporate earnings data for the first half of the year. The benchmark SOFIX retreated 0.3% to settle at 862.25, while the broader ones - BGBX40 (169.60, -0.1%), BGTR30 (863.45, +0.6%) performed in opposite directions. The weekly volume (-66.8%) showed weak performance while the turnover (+46.6%) was pushed up by intense trade with bonds and generally illiquid n...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 July 2024
SOFIX (862.25, -0.23%) closed negative on Friday reflecting the drop of M+S Hydraulic (MSH, BGN 10.00, -4.76%), Bulgarian Stock Exchange (BSE, BGN 7.50, -2.60%) and Chimimport (CHIM, BGN 0.75, -1.96%). Speculative trades raised First Investment Bank (FIB, BGN 4.90, +2.51%) while block trades pushed Doverie United Holding (DUH, BGN 8.66, +0.70%). The heavy member Advance Terrafund (ATER, BGN 3.22, -0.31%) and Bulgarian Real Estate Fund (BREF, BGN 2.62, -0.76%) weighed on BGREIT and the index clos...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 26 July 2024
SOFIX (864.25, +0.17%) closed slightly positive despite huge opposite moves of index members on Thursday. Chimimport (CHIM, BGN 0.765, +5.52%), M+S Hydraulic (MCH, BGN 10.50, +3.96%) and First Investment Bank (FIB, BGN 4.78, +1.70%) led the daily gainers while Shelly Group (SLYG, EUR 36.00, -4.51%) and Elana Agrocredit (EAC, BGN 1.08, -0.92%) slumped with moderate daily volume. Advance Terrafund (ATER, BGN 3.23, +0.94%) advanced on the ground of small volume and BGREIT (192.86, +0.18%) closed on...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 July 2024
Speculative trades dominated the trading session on Wednesday. SOFIX (862.82) added 0.22% on the wings of First Investment Bank (FIB, BGN 4.70, +4.44%), Shelly Group (SLYG, BGN 37.70, +1.89%) and Bulgarian Stock Exchange (BSE, BGN 7.70, +1.99%). Chimimport (CHIM, BGN 0.725, -2.03%), Sopharma (SFA, BGN 5.80, -1.69%) and Eurohold (EUBG, BGN 1.50, -0.66) pulled back the main index on the ground of poor daily volume.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 May 2024
The major indexes closed with losses, reflecting the moderate activity of retails on Tuesday. SOFIX (863.60) fell 0.35%, while the broad indexes BGBX40 (171.72) and BGTR30 (851.69) took some advantage from Bianor Holding’s (BNR, BGN 5.30, +6.00%) and Billboard’s (BBRD, BGN 0.48, +15.38%) gains and decreased by 0.20% and 0.13% respectively. The volumes remained moderate as the turnover reached 69% of its 3-month average, mainly reflecting the Eurohold (EUBG, BGN 1.58, +0.64%) trading.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 15 May 2024
The Bulgarian equity market ended the session on an upbeat note for seventh day in a row and the main indexes all settled near session highs. SOFIX (849.12) continued its recent outperformance, gaining 1.23% on Tuesday. The positive mood within the market resized new names apart from First Investment Bank (FIB, BGN 4.66), which added 18.88% to its market cap still without fresh news around the name, Agria Group (AGH, BGN 23.70) and Central Cooperative Bank (CCB, BGN 1.73) registered 7.73% and 4....
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 9 May 2024
The main indexes closed near session highs on Wednesday, building on their weekly gains and settling at new 15-years highs. The financial sector, represented by First Investment Bank (FIB, BGN 3.56, +5.95%), Central Cooperative Bank (CCB, BGN 1.63, +7.24%) and Chimimport (CHIM, BGN 0.72, +7.46%) was on focus in this session and was traded with positive bias but lack of fresh news raises questions. Sirma Group (SGH, BGN 0.77, +6.21%) was another mover within SOFIX (829.14, +0.74%) with increased ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 April 2024
The Bulgarian equity market started the final session of the week on higher note, building on gains throughout the week. Reloaded buying interest in First Investment bank (FIB, BGN 3.08, +8.45%) and Shelly Group (SLYG, BGN 68.00, +0.59%) provided a boost to the participants, which led SOFIX (818.59, +0.41%) to new 15-years high. The broad indexes BGTR30 (822.07, +0.31%) and BGBX40 (165.97, +0.31%) underperformed the benchmark indexes with significant part of untraded names and expectations for t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 February 2024
Mixed trading session fixed SOFIX (784.03, +0.08%) and BGREIT (191.49, +0.26%) positive while BGBX40 (161.66, -0.11%) and BGTR30 (805.07, -0.01%) closed negative on Wednesday. First Investment Bank (FIB, BGN 2.84, +3.65%), BSE (BSE, BGN 15.35, +2.68%) and Chimimport (CHIM, BGN 0.72, +2.27%) led the daily gainers on the ground of moderate daily volume. The negative impact on SOFIX came from M+S Hydraulic (MSH, BGN 10.30, -1.90%) and Neochim (NEOH, BGN 21.10, -1.86%).
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 2 January - 5 January 2024
All major indexes advanced modestly last week with the exception of BGREIT (192.94, +1.4%), which advanced the most, reflecting the impressive performance of the index member Bulgarian Real Estate Fund (BREF, BGN 2.60, +7.4%). The local benchmark SOFIX added 0.2% to settle at 766.84 as the broad ones - BGBX40 (158.18, 0.2%) and BGTR30 (799.52, +0.0%) finished similar. A total of 14 out of 29 names in our universe finished on green territory last week, 9 weighted on the red side, 6 remained uncha...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 January 2024
The trading entered 2024 on a mixed note with slight advance of the gainers and the major indexes reflected the trading in range between BGTR30 (798.97, -0.06%) and SOFIX (768.87, +0.49%). Shelly Group (SLYG, BGN 48.00, +1.91%) touched record high at BGN 48.60 in early hours and lately settled at lower level as some profit-taking retail went active. Gradus (GR6, BGN 1.40, -6.67%) and First Investment Bank (FIB, BGN 3.00, +2.74%) opposite moves offset each other but the impact came after trades w...
- Research Team
WOOD Flash – Coverage UNDER REVIEW
We are putting our coverage of the following stocks UNDER REVIEW, with immediate effect. We caution against using the forecasts, ratings and price target guidance issued previously on these stocks: Addiko Bank Alro Arion banki Bogdanka Cognor Holding DataWalk Gradus Grenevia Islandsbanki Kety TeraPlast
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 December 2023
The benchmark SOFIX (742.09, +0.15%) remained in green on Thursday, despite of the significant drops in Central Cooperative Bank (CCB, BGN 1.50, -3.23%) and Bulgarian Real Estate Fund (BREF, BGN 2.40, -4.76%). The daily gainers within the index were Sopharma (SFA, BGN 5.78, +1.05%) and Shelly Group (SLYG, BGN 46.70, +1.52%). The trades with Sopharma and Central Cooperative Bank formed more than 70% of SOFIX turnover which remained far below 3-months average numbers.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 27 November - 1 December 2023
The Bulgarian stock market ended last week on a somber note, as investors remained cautious with decreasing activity. The leading local index SOFIX lost 0.4% to close at 745.97 as the broad one BGBX40 (156.98, -0.3%) performed similar, while the sector-specific BGREIT (186.87, -0.8%) lost the most. The weekly top performer within our list of selected companies was Industrial Capital Holding (HIKA, BGN 2.80, +7.7%), followed by Telematic Interactive Bulgaria (TIB, BGN 15.00, +5.6%) and Bulgarian ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 December 2023
Buying activity at lower market levels of the heaviest members of SOFIX (745.97, -0.03%) was the key point for the first monthly trading session. The advance of Chimimport (CHIM, BGN 0.67, +3.08%) was offset by the decline of First Investment Bank (FIB, BGN 2.58, -2.27%), while the volumes were concentrated in Sopharma (SFA, 7.10, -0.28%) and Doverie (DUH, BGN 8.40, 0.00%), which were traded almost without change. Finally the major indexes closed mixed, depending by the weight of large cap names...
- 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
Weekly bulletin - 18 September - 21 September 2023
The Bulgarian stock market edged lower last week, as global investors remained in a cautious mode keeping an eye on signs of prolonged elevation in interest rates. The benchmark SOFIX lost 0.6% to close at 741.15, while the broad ones BGBX40 (156.38, -0.4%) and BGTR30 (781.49, 0.0%) were broadly flat this past week. Losers significantly outnumbered the gainers in our list of selected securities, 12-to-8, while 9 remained unchanged. The top performers were Gradus (GR6, BGN 1.50, +5.6%) and Monbat...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 21 September 2023
The Bulgarian equity market started Wednesday’s session with positive bias as the participants saw some good entry point after latest downtrend and all major indexes rebounded with modest gains. SOFIX (740.06) increased 0.91% and outperformed all major indexes, led by Eurohold (EUBG, BGN 1.80, +2.86%) and M+S Hydraulic (MSH, BGN 11.70, +3.54%) as no fresh news were announced lately. The volumes on the other hand were poor.
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