reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 February 2026
It appeared that the fresh 18-year highs reached in recent sessions attracted increased profit-taking, as the Bulgarian equity market came under selling pressure on Friday, echoing the cautious sentiment from global markets. SOFIX (1 374.91, -0.76%) closed lower, weighed down by declines in Shelly Group (SLYG, EUR 68.00, -2.30%) and First Investment Bank (FIB, EUR 3.68, -2.13%), despite the absence of any negative surprises in the latest financial disclosures. On a broader base, Eleven Capital (...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 January 2026
The positive sentiment on the Bulgarian Stock Exchange weakened on Thursday, pushing all major indexes into negative territory, with SOFIX (1 385.46, -1.40%) recording the steepest decline. Doverie (DUH, EUR 7.10, -8.51%) came under pronounced selling pressure, followed by Smart Organic (SO, EUR 17.20, -3.37%), Central Cooperative Bank (CCB, EUR 1.84, -3.16%), and Chimimport (CHIM, EUR 0.58, -3.33%), though trading volumes across these names remained subdued. A sharp advance in Sopharma Trading ...
- Veselin Radoychev Please Change Surname
Bulgaria Outlook 2026
Global macroeconomic and geopolitical challenges weighed on the Bulgarian economy over the past year, primarily through weaker external trade dynamics. Despite this, economic growth remained solid. Real GDP expanded by 2.8% in Q1, 3.5% in Q2, and 3.0% in Q3, supported almost entirely by strong domestic demand. Several factors underpinned this robust consumption growth with the most important being the growth of compensation and the euro transition effect. For 2026 the projections by major i...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 January 2026
The Bulgarian equity market entered a phase of consolidation after reaching an 18-year record high, with the main indexes posting their first losses since the beginning of the year. Recent top performer Chimimport (CHIM, EUR 0.585, -7.14%) led the pullback, followed by Sirma Group (SGH, EUR 1.20, -2.44%) and Elana Agrocredit (EAC, EUR 0.55, -2.65%). Profit-taking activity dominated the session, while trading volumes within SOFIX (1 395.85, -1.33%) remained below the 3-month average, indicating a...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 December 2025
The final session of the last full trading week before year-end closed on a positive note for the Bulgarian equity market, reflecting the constructive sentiment observed in recent days. Chimimport (CHIM, BGN 0.745, +2.76%) and Sirma Group (SGH, BGN 1.86, +6.29%) contributed the most to SOFIX (1 148.45, +0.45%), which rewrote its 18-year high. Meanwhile, light-volume trades with Albena (ALB, BGN 27.60, +5.34%) and Gradus (GR6, BGN 1.09, +9.00%) drove the outperformance of the broader BGBX40 (201....
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 12 December 2025
Wiser Technologies (WISR, BGN 4.70, +2.17%) and the financial sector representatives Central Cooperative Bank (CCB, BGN 1.84, +2.22%) and First Investment Bank (FIB, BGN 5.88, +5.00%) reinforced SOFIX (1,125.87, +0.34%), which registered a new 18-year high on Thursday. Investor focus remained concentrated primarily within the benchmark, although low-volume trades in Trace Group (T57, BGN 5.30, +6.00%) and Sopharma Properties (SFI, BGN 9.35, +3.89%) supported the performance of the broad indexes,...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 December 2025
SOFIX (1 118.39, +0.49%) registered its fourth consecutive session with a fresh 18-year high, reflecting increased buying interest across the benchmark’s constituents. The strengthened buy-side order book lifted First Investment Bank (FIB, BGN 5.30) by 5.58% following the approval of the GSM agenda. Recent outperformers, Sopharma (SFA, BGN 2.82, +1.08%) and Doverie (DUH, BGN 11.65, +0.43%), remained on the gainers’ list, joined by Bulgarian Stock Exchange (BSE, BGN 10.20, +2.00%), which rebounde...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 December 2025
The Bulgarian equities inched higher on Friday, recovering most of the previous session’s losses and closing the week with modest gains. A rebound in Advance Terrafund (ATER, BGN 2.67, +1.91%) and a steady bid in Shelly Group (SLYG, EUR 56.40, +1.44%) helped to lift all major indexes, with SOFIX (1 087.77, +0.14%) leading the advance. Trading volumes were broadly unchanged from the prior session, remaining subdued for the season. Chimimport (CHIM, BGN 0.70, 0.00%) and Eurohold (EUBG, BGN 1.90, +...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 27 November 2025
The Bulgarian equity market extended its midterm uptrend on Wednesday, despite the absence of major corporate catalysts or meaningful macro signals, with all key indexes adding to their recent gains. SOFIX (1 088.86) finished just a tick below its 18-year high, powered by a fresh advance in Bulgarian Stock Exchange (BSE, BGN 11.80, +4.42%), which remained the session’s standout performer. Strength across the producers’ segment, most notably Hydraulic Elements and Systems (HES, BGN 5.10, +2.82%) ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 24 November 2025
Bulgarian equities ended the week firmly on the negative side, with most major indices posting declines as investors reassessed their positions amid heightened volatility across global markets. The local blue-chip index SOFIX slipped by 0.7% to close at 1 071.8 points, as the broader BGBX40 (192.56, -0.8%) and BGTR30 (941.65, -0.7%) mirrored the overall downward trend. Among the stocks we track, the top performers were Trace Group Hold (T57, BGN 5.20, +4.0%), the consistently strong Shelly Group...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 21 November 2025
The Bulgarian equity market extended its rebound on Thursday with SOFIX (1 083.94, +0.77%) adding to the recovery seen earlier in the week. Central Cooperative Bank (CCB, BGN 1.69, +3.05%), Advance Terrafund (ATER, BGN 2.75, +3.00%), Chimimport (CHIM, BGN 0.70, +2.94%), and Doverie (DUH, BGN 9.28, +2.20%) led the advance, though the strength came somewhat unexpectedly given the light trading volumes and absence of fresh corporate catalysts. Market activity remained moderate for the season and co...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 27 October - 31 October 2025
Bulgarian stock market closed the week a little bit lower, as the local Benchmark SOFIX lost 0.6% to settle at 1068.06, all the other major indexes closed ranging from -0.7% to 0.0%. No visible improvement in investors’ sentiment was observed after the release of the last financial reports for the 3rd quarter, leaving the market subdued and lacking strong catalyst. The significant improvement in both weekly volumes (+285.5% YTD) and turnover (+148.6% YTD) came mainly from block trades with capit...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 October 2025
Despite the enormous jump of Sirma Group (SGH, BGN 1.72, +10.97%), SOFIX 1069.02 (-0.29%) closed negative as all the other index members lost altitude or finished the day unchanged on Thursday. Poor financial performance in Q3 of Smart Organic (SO, BGN 28.00, -2.78%) disappointed investors and the company dropped without significant daily volume while huge selling pressure weighed on Bulgarian Stock Exchange (BSE, BGN 10.50, -1.87%), Doverie United Holding (DUH, BGN 9.28, -1.90%) and Advance Ter...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 October 2025
Trading on the Bulgarian equity market remained subdued, with light volumes and mixed movements across the major indexes. Investor sentiment was cautious, resulting in modest price changes. First Investment Bank (FIB, BGN 5.26, +1.15%) continued to attract attention following its recently published agenda, which helped the stock advance by 1.15% and along with Sopharma (SFA, BGN 2.74, +1.48%) and Doverie (DUH, BGN 9.46, +1.07%) supported the SOFIX index, which closed 0.25% higher at 1 072.11 poi...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 October 2025
It was a mixed session on the Bulgarian Stock Exchange on Tuesday, with the main indexes ending flat amid opposing moves across key equities. SOFIX (1 069.43, 0.00%) closed unchanged as a 3.59% rise in First Investment Bank (FIB, BGN 5.20, +3.59%), following the publication of the agenda for its upcoming extraordinary general meeting, offset declines in Shelly Group (SLYG, EUR 52.60, -0.38%), Advance Terrafund (ATER, BGN 2.90, -1.02%), and Bulgarian Stock Exchange (BSE, BGN 10.70, -0.93%). The b...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 October 2025
The Bulgarian equities market extended its midterm uptrend on Tuesday. The major indexes advanced between 0.11% and 0.54%, with SOFIX (1 082.77, +0.54%) leading the gains, driven by Sopharma (SFA, BGN 2.77, +2.21%) and Sirma Group (SGH, BGN 1.51, +1.34%), while Advance Terrafund (ATER, BGN 2.93, -0.34%) weighed on BGREIT (228.64, -0.07%). Bulgarian Stock Exchange (BSE, BGN 11.50, -0.86%) saw cooling demand after its price outpaced the proposed dividend, while Agria Group (AGH, BGN 15.00, -3.85%)...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 23 September - 26 September 2025
The Bulgarian stock market showed a modest performance over the past week, with all major indexes ending nearly flat on Friday. The benchmark SOFIX edged up by 0.1% to close at 1 066.97, while the other key indexes also finished in positive territory, posting gains between 0.1% and 0.5%. Trading activity remained subdued, as block deals and bond trades contributed to a higher-than-average weekly turnover (+29.34%), despite a significant year-to-date decline in volumes (-71.9%). Gradus (GR6, BGN ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 September 2025
Bulgarian equities closed lower on Friday after a volatile session marked by sharp price swings. SOFIX (1 065.52, -0.30%) was pressured by heavyweight Shelly Group (SLYG, EUR 52.00, -3.35%), which posted wide intraday moves before settling with a steep loss. Gains in Telematic Interactive (TIB, BGN 22.60, +2.73%) and Sopharma (SFA, BGN 2.70, +2.27%) helped cushion the decline. The broader indexes also retreated, with the BGBX40 (192.86, -0.32%) and BGTR30 (949.21, -0.48%) additionally dragged do...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 9 September - 12 September 2025
Bulgarian equity markets ended the week on a cautious note, with most major indexes posting modest declines as participants reassessed positioning following the end of the summer season. The local benchmark SOFIX declined by 0.7%, closing at 1 077.62, while the broader BGBX40 (195.28, -0.2%) and BGTR30 (958.07, +0.1%) remained flattish. Industrial M+S Hydraulic (MSH, BGN 10.10, +5.2%) and SOFIX member Telematic Interactive Bulgaria (TIB, BGN 22.20, +2.8%) were on the top of the gainers in our li...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 11 September 2025
The Bulgarian equity market extended its midterm downtrend on Wednesday, with all major indexes closing lower amid subdued activity on the bid side. SOFIX (1 080.54, -0.04%) edged down slightly, while BGBX40 (195.39, -0.36%) and BGTR30 (958.25, -0.16%) underperformed, pressured by sell-offs in Sofia Commerz (SCOM, BGN 7.85, -4.27%), Korado Bulgaria (KBG, BGN 4.14, -4.17%), and Speedy (SPDY, BGN 193.00, -3.50%). Turnover slipped below recent levels, with trading concentrated in benchmark constitu...
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