reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 22 January - 26 January 2024
Over the past week, investors managed to stay positive and Bulgarian stock market advanced modestly. The local benchmark SOFIX added 0.6% to close at 787.72, reflecting the good performance of index members like Shelly Group (SLYG, BGN 57.60, +5.1%) , Central Cooperative Bank (CCB, BGN 1.61, +3.9%) and others. The weekly top gainer within our list of selected companies was Alcomet (ALCM, BGN 7.15, +8.3%), followed by Shelly and Stara Planina Hold (SPH, BGN 10.40,+5.1%). Neochim ( NEOH, BGN 27.0...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 January 2024
The Bulgarian equity market ended mixed but the major indexes registered narrow based sharp losses on Wednesday and finished on the negative side. Low volume trades with Eurohold (EUBG, BGN 1.53, -10.00%) on the bid side with additional weight coming from the heavy members Sopharma (SFA, BGN 5.64, -0.70%) and Shelly Group (SLYG, BGN 47.80, -0.42%) drove SOFIX (757.78, -1.44%) down and the benchmark index retreated from its 15-years record high (768.87 points). The volumes continued to slip even ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 04 September - 08 September 2023
The Bulgarian stock market finished the last trading week on a negative note, balancing after the strong performance during the peak summer season. The local leading index SOFIX retreated modestly -0.2% to settle at 756.68 in another shortened trading week, while the broad ones BGBX40 (157.98) and BGTR30 (785.01) underperformed the benchmark, losing 0.5% and 0.8% on a weekly basis. Both the volume and the turnover showed noticeable performance, exceeding the YTD average by 36.3% and 258.3%, m...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 7 September 2023
The major indexes endured some intraday volatility to finish with moderate losses on Tuesday as the investors doubled down on the inclination to sell into strength before Unification day. SOFIX (745.93, -0.84%) started the session with 3.37% drop early in the session but the recovery of Shelly Group (SLYG, -7.02%) to BGN 42.40 and the surge of Sopharma (SFA, BGN 6.14, +5.86%) later on the day smoothed the negative effect before the closing bell. The volumes improved compared to previous day but ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 15 June 2023
The Bulgarian equity market retreated from record highs on Wednesday as investors engaged in a little profit taking mainly from financial sector, eliminating previous day’s gains – First Investment Bank (FIB, BGN 2.12, -3.64%) and Chimimport (CHIM, BGN 0.76, -2.56%). SOFIX (685.11) deepened more than 1.65% during the session but managed to recover slightly to 0.77% decline, supported by Monbat (MONB, BGN 4.40, +1.38%) and Bulgarian Stock Exchange (BSE, BGN 9.20, +0.66%) after small trades. The v...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 19 December - 23 December 2022
Positive sentiment last week raised all local indexes. Good corporate news and the Christmas spirit increased overall liquidity and weekly turnover (BGN 18.6m) exceeded the average one YtD (BGN 17.2m). Industrial Capital Holding (HIKA, BGN 2.92) registered 12.3% WoW increase and lead weekly gainers, followed by Gradus (GR6, BGN 1.47, +7.3%) and Korado (KBG, BGN 6.15, +5.1%). Weekly losers’ list was occupied by some of the best performing companies in Q3 due to profit taking – Industrial Holding ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 December 2022
The positive bias driving previous day’s gains weakened and the main indexes booked smaller positive moves on Thursday. SOFIX (601.42) added 0.12% and continued to float between its 200 and 100-day MA as the current holiday trading conditions triggered additional buying interest. First Investment Bank (FIB, BGN 1.99) led the gainers in this session by 4.74% advance as P/E of 2.7x attracted more investors to the stock. Neochim (NEOH, BGN 42.00, +3.45%) followed but the result came from small trad...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 August 2022
The major indexes endured some intraday volatility to finish a step above their previous day close as the Fed Chair Powell’s speech followed the closing and no impact was registered on the Bulgarian stock market. SOFIX (607.75) gained 0.07% on Friday, paced higher by 5 of its members as Advance Terrafund (ATER, BGN 2.98, +2.05%) led the winners. FairPlay Properties (FPP, BGN 0.88, -7.37%) and Eurohold (EUBG, BGN 2.04, -2.86%) finished on the opposite side as the retails easily moved the prices w...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 25 July - 29 July 2022
The main indexes declined in the last week of July ranging between -0.2% to -0.6%, which reflected in YTD changes to -5.7% decrease of SOFIX (599.72) and 12.2% gain for BGREIT (184.01). The released Q2 financial data triggered the interest in the latest sessions as top gainer in our watchlist Alcomet (ALCM, BGN 8.10, +14.9%) announced 64.7% surge of revenue YoY, while the less than expected revenue of Neochim (NEOH, BGN 41.00) turned to 15.6% weekly loss. The middle of the summer season and the ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 July 2022
The Bulgarian stock market ended on a low note on Thursday for second day in a row, ranging from -0.41% to -0.13%. BGREIT (186.44) alone advanced 0.60%, benefiting from the advance of the real estate sector. 9 out of 15 members of the benchmark index registered declines in this trading session as the lack of fresh offers widened the bid/ask spreads, causing slight increase in the volatility. The volumes finished a note higher but still far from the 15-days average.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 18 July 2022
The buying interest picked up on Friday to build on Thursday’s gains for all indexes but SOFIX (606.89), which registered 0.07% decline. Advancers led laggards in the main index by a 8-to-7 margin as Bulgarian Real Estate Fund (BREF, BGN 2.52, +5.00%) finished as a top gainer and M+S Hydraulic (MSH, BGN 8.70, -2.25%) ended as a top loser within the benchmark. The extended indexes BGTR30 (734.40, +0.37%) and BGBX40 (141.37, +0.22%) were additionally supported by the surges of Gradus (GR6, BGN 1.4...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 13 June - 17 June 2022
All main indexes finished on red territory last week, as world stocks on Friday closed out their steepest weekly slide since the pandemic drop of March 2020. Investors deepened worries that tighter monetary policy by inflation-fighting central banks could damage the global economic growth. The leading local index SOFIX (612.79) decreased the most by 1.2%, followed by the broad indexes BGBX40 (143.38) and BGTR30 (735.32) with 0.9% and 0.4% falls, respectively. BGREIT (178.76) slipped 0.3% and com...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 20 June 2022
The major indexes saw a bit of volatility ahead of the weekend as the session lows were set in early hours but climbed as the day went on. The SOFIX (612.79) outperformed all indexes by 0.17% as the gainers slightly prevailed, while BGBX40 (143.38, -0.06%) closed on the negative side additionally pressed down by the slips of Gradus (GR6, BGN 1.29, -3.73%), Bulgarian Stock Exchange (BSE, BGN 10.60, -3.64%) and Stara Planina Hold (SPH, BGN 9.70, -3.96%). The volumes remained low compared to 15-day...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 8 June 2022
SOFIX (618.57) rebounded by 0.67% on Tuesday in a volatile session with focus on large cap names. The positive outcome for the benchmark index came from the recovery of First Investment Bank (FIB, BGN 2.10, +7.14%) and Doverie United Holding (DUH, BGN 7.78, +2.91%) and supported by the buying interest in Chimimport (CHIM, BGN 1.00, +6.61%) and M+S Hydraulic (MSH, BGN 8.80, +5.39%). The extended index BGTR30 (738.68, -0.31%) and BGBX40 (143.97, -0.19%) underperformed the benchmark pressed by the ...
- Mihail Dimitrov
REITs Annually 2021
SECTOR NEWS (2021): INDUSTRIAL SPACE REBOUNDED, WHILE OFFICE AND RETAIL SPACE CONTINUED TO SUFFER THE ADVERSE EFFECTS OF THE PANDEMIC Office space market yield decreased by 0.25 p.p. to 7.5%, while prime rents remained flat at EUR 15/sq.m. 2021 take-up advanced to 154.9k sq.m, while vacancy rate jumped by 3.2 p.p. to 16.8%. Retail space market yields remained flat at 7.5%, while prime rents declined in shopping centres to EUR 34/sq.m. Vacancy rate decreased by 2.9 p.p. to 5% in 2021. I...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 4 January - 7 January 2022
The local indexes closed in opposite directions over the first week of the year, where SOFIX added 1.8% to 647.18, while BGREIT slipped by 1.8% to 161.01. Almost 60% of the constituents of our universe advanced on a weekly basis and almost 30% of them remained flat. The top gainers within our watchlist were Trace Group Holding (T57, BGN 4.40, +15.8%), Central Cooperative Bank (CCB, BGN 1.14, +8.6%), and Monbat (MONB, BGN 6.35, + 7.6%), while the top losers were Neochim (NEOH, BGN 21.40, -5.3%), ...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 6 December - 10 December 2021
The local indexes slipped slightly with abnormal weekly turnover of 8.14x the average YTD, where SOFIX shrank by 1.8% to 613.34. The top mover within our universe was Alcomet (ALCM, BGN 7.60, -15.1%), which lost ground on two block and a few follow-up trades, with next being Agria Group Holding (AGH, BGN 14.60, +14.1%), which advanced with decent volume. Allterco (A4L, BGN 22.80, -6.6%), Neochim (NEOH, BGN 23.00, -5.7%), and Industrial Capital Holding (HIKA, BGN 3.00, +5.6%) moved notably too, a...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 13 December 2021
The local indexes slipped slightly with regular turnover, where SOFIX erased 1.14% to 613.34. The top mover within the main index was Eurohold Bulgaria (EUBG, BGN 2.10, -4.55%), which lost ground on a few low-volume trades, followed by Doverie United Holding (DUH, BGN 10.05, -3.83%), which retraced with decent volume. Telelink Business Services Group (TBS, BGN 15.20, -2.56%) slipped as well, while the only notable positive move was by Sopharma Trading (SFT, BGN 4.86, +2.10). BGREIT remained at 1...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 December 2021
SOFIX retreated to 620.39 (-0.22%) on Thursday as almost 90% of the daily turnover within the index came from three companies – Doverie (DUH, BGN 10.45, -0.95%), Sopharma (SFA, BGN 4.44, +0.91%) and Allterco (A4L, BGN 22.80, -4.20%). Holding Varna (HVAR, BGN 41.80, +1.46%) led the daily blue chip gainers by registering insignificant daily volume. After magnificent start of the trading Dronamics Capital (DRO1, BGN 1.63, 0.00%) consolidated profits at BGN 1.63 but still the investors buying power ...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 9 December 2021
SOFIX (621.73, -0.87%) retreated on Wednesday from 3 years high with decreased volumes. Doverie United Holding (DUH, BGN 10.55, -7.86%) and Allterco (A4L, BGN 23.80, -2.46%) weighed the most on the benchmark index as the weakening interest triggered profit taking. Without fresh corporate news, Agria Group (AGH, BGN 15.30, +12.50%) continued to advance, supporting the extended indexes and the decreases were limited to 0.28% and 0.55%, respectively for BGBX40 (140.16) and BGTR30 (669.03). The star...
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