reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 April 2025
Huge bid/ask spreads and absence of news fixed SOFIX (903.53, -0.79%) negative on Monday. Shelly Group (SLYG, EUR 37.30, -1.58%), Chimimport (CHIM, BGN 0.725, -2.68%) and Sopharma (SFA, BGN 5.74, -1.37%) retreated with small daily turnover. The gambling company Telematic Interactive Bulgaria (TIB, BGN 22.00, +0.92%) and Doverie United Holding (DUH, BGN 7.98, +0.25%) moved north driven by speculative trades on the last trading date of the month. BGREIT (214.08, -0.09%) also stepped back, reflecti...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 April 2025
SOFIX (903.16, -0.04%) closed almost unchanged on Tuesday supported by the heavy member Sopharma (SFA BGN 5.80, +1.05%) and notable positive move of Chimimport (CHIM, BGN 0.75, +3.45%). Doverie United Holding (DUH, BGN 8.00, +0.25%) registered a block trade with 35K, which accounted for 60% of SOFIX daily turnover. Negative impact on the main index came from Smart Organic (SO, BGN 27.60, -1.43%) and Shelly Group (SLYG, EUR 36.90, -1.07%) but both companies stepped back with poor daily volume.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 19 March 2025
The wave of buying interest slowly gained speed on Tuesday and settled the major indexes on the positive side. Sirma Group (SGH, 1.07, +7.00%) led the advancers list once again and boosted SOFIX (899.92, +0.25%) close to psychological level of 900 point. Eleven Capital (11C, BGN 15.20, +2.70%) and M+S Hydraulic (MSH, BGN 9.45, +2.72%) supported the broad indexes BGTR30 (871.17, +0.43%) and BGBX40 (172.24, +0.22%). The daily volume improved moderately too as more names participated in the trading...
- 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 - 13 March 2025
SOFIX (896.88, +0.09%) and BGBX40 (171.79, +0.01%) closed on a note higher on Wednesday, though the daily impact could be stronger without the selling pressure on Central Cooperative Bank (CCB, BGN 1.60, -2.44%) and Chimimport (CHIM, BGN 0.715, -2.05%), which placed the bank on the top loser list for second day in a row in the large cap space. The positive bias came from buy-the-dip interest in First Investment Bank (FIB, BGN 3.98, +3.11%), Shelly Group (SLYG, EUR 36.20, +1.97) and Agria Group (...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 5 March 2025
The Bulgarian market started the shorter working week on a downbeat note following the world economy sentiment. The decliners led the advancers by 2-to-1 margin, which settled the main indexes on negative territory. SOFIX (893.80) underperformed the most by 1.16% as the heavy Shelly Group (SLYG, EUR 36.50, -2.67%), Sopharma (SFA, BGN 5.74, -1.71%) and First Investment Bank (FIB, BGN 3.68, -3.16%) met the selling pressure below the current market levels. Positive consolidated financial data gave ...
- Martin Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 27 January - 31 January 2025
The Bulgarian stock market managed to end the week slightly higher on Friday, while global markets continued with the volatile performance. The local Benchmark SOFIX added 0.5% to settle at 892.36, as all the other major indexes closed up, ranging from 0.1% to 0.7%. The shares of three companies- SOFIX members were the top gainers within our list of selected names – Sirma Group Holding (SGH, BGN 1.00, +6.4%), Bulgarian Real Estate Fund (BREF, BGN 4.08, +4.1%) and Central Cooperative Bank (CCB,...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 January 2025
There was some increased activity under the surface on a broad range of sectors, though the main indexes settled near previous session’s levels. Sirma Group (SGH, BGN 0.97, +2.11%) led the gainers and together with increased value of the real estate sector, settled SOFIX (891.87, +0.33%) and BGREIT (213.56, +0.11%) with gains. The widened Bid/Ask spreads accelerated the negative effect of the light-volume trades with Smart Organic (SO, BGN 23.40, -4.88%) and Stara Planina (SPH, BGN 8.65, -3.89%)...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 January 2025
The Bulgarian equity market had some mixed showing on Wednesday, though the trading activity was concentrated more on current market levels, while the light volume trades dictated the direction. The bank sector, represented by First Investment Bank (FIB, BGN 4.30, +4.37%), Central Cooperative Bank (CCB, BGN 1.69, +3.68%) and Bulgarian American Credit Bank (BACB, BGN 12.50, +8.70%) gave the positive bias, while Elana Agrocredit (EAC, BGN 1.07, -2.73%) and M+S Hydraulic (MSH, BGN 9.10, -7.91%) led...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 January 2025
It seems that the light-volume trades continue to navigate the Bulgarian market, while the investors stay frozen in wait and see mode. Single trades with Central Cooperative Bank (CCB, BGN 1.68, -2.33%), Shelly Group (SLYG, EUR 34.80, -0.29%) and Sopharma Buildings (SFB, BGN 12.50, -3.85%) placed all major indexes on the negative side in range between 0.05% and 0.25%. The trading activity was weak as close to half of the indexes’ members finished the session untraded.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Bulgaria Outlook 2025
OUTLOOK 2025 – 6 VALUE STOCKS FOR YOUR PORTFOLIO Bulgaria's economy showed resilience despite the world and domestic challenges. In the first three quarters of 2024, the country posted steady annual GDP growth of 1.9% in Q1, 2.3% in Q2 and 2.6% in Q3 (non-seasonally adjusted data). The main drivers behind the growth were the individual and government consumption, which accelerated their contribution throughout the three quarters. Inflation has been on a downward trend, aligning with global ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 19 December 2024
The major indexes traded slightly higher on Wednesday, reflecting carryover upside momentum to build on recent gains. Buying efforts continued to move Eurohold (EUBG, BGN 1.69) ahead by fresh 2.42% increase, which in combination with Bulgarian Stock Exchange’s (BSE, BGN 7.95, +1.27%) and First Investment Bank’s (FIB, BGN 3.90, +0.52%) advance led the indexes to positive territory with SOFIX (862.47, +0.29%) on top. The daily volumes improved significantly as close to 32m warrants of Eurohold (EU...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 2 December - 6 December 2024
The Bulgarian stock market ended the week with no clear direction, as the local benchmark SOFIX added 0.1% to settle at 847.67. The broader BGBX40 (166.63, +0.3%) and BGTR30 (846.93, -0.4%) performed in different directions, while the sector BGREIT (213.60,+0.6 %) gained the most, supported by the strong movement of Sopharma Buildings (SFB, BGN 16.50, +19.57%). The weekly top performer within our selected companies was Trace Group Hold (T57, BGN 6.0,+6.2%), followed by Telematic Interactive Bul...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 December 2024
The major indexes started December with gains while BGREIT (211.60, -0.34%) reflected the negative price actions in the real estate and alone settled with losses. BGBX40 (166.82, +0.44%) reflected the investors’ focus fully with narrower base names included in the daily activity. Bulgarian Stock Exchange (BSE, BGN 8.05, +4.55%), Smart Organic (SO, BGN 21.20, +3.92%) and Telematic Interactive (TIB, BGN 22.20, +6.73%) were among top daily advancers, while Bianor Holding (BNR, BGN 5.15, -5.50%), Pe...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 December 2024
The Bulgarian market was mixed on Friday but a narrow range of names registered significant deviations in otherwise quiet session. The major indexes settled with losses as SOFIX (846.60, -0.20%) erased part of previous day gain, following the negative price actions in Agria Group (AGH, BGN 19.70, -2.48%) and First Investment Bank (FIB, BGN 3.80, -4.04%), while the BGBX40 (166.09, -0.13%) and BGTR30 (850.17, -0.03%) performed slightly better, supported by Petrol (PET, BGN 0.89, +23.61%) and Sirma...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 28 October - 1 November 2024
Bulgarian equity market rose modestly in the second week of October, as the end of the third-quarter earnings season for the companies showed mixed results and did not manage to point the market to a clearer direction. The local Benchmark SOFIX added 0.8% to settle at 854.17, as all the other major indexes closed up, ranging from 0.2% to 1.4%. A newly announced fourth dividend distribution this year by Telematic Interactive (TIB, BGN 20.60, +15.7%) put the name of the company on the top of the g...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 October 2024
The Bulgarian equity market had a mixed showing on Wednesday, though ultimately the main indexes were up in range from 0.39% to 0.74%. SOFIX (841.39, +0.40%) rebounded from its 200-day MA mainly supported by First Investment Bank (FIB, BGN 3.66, +5.17%) recovery after the announcement of Q3 financial data, which couldn’t reach the previous year results for the same period on the other hand. BGREIT (211.42) was the exception, following the pull back of the real estate sector and settled 0.41% low...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 October 2024
SOFIX (842.81, -0.52%) stepped back reflecting poor liquidity and huge daily fluctuations. Shelly Group (SLYG, EUR 33.10, -2.65%), First Investment Bank (FIB, BGN 3.76, -2.08%), Sirma Group Holding (SGH, BGN 1.06, -1.85%) and Bulgarian Stock Exchange (BSE, BGN 7.95, -1.24%) retreated with small daily turnover and weighed on the main index. Speculative trades with Central Cooperative Bank (CCB, BGN 1.65, +3.13%) and Chimimport (CHIM, BGN 0.715, +1.42%) raised both names without corporate news. Ad...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 21 October - 28 October 2024
The lack of investors’ enthusiasm and the negative trend on the Bulgarian stock market became more visible during the past week and all major indexes finished with losses. The local benchmark SOFIX decreased by 0.8% to settle at 847.18, while the broad ones – BGBX40 (167.02, -1.6%) and BGTR30 (853.24, -1.8%) performed worse. Speedy (SPDY, BGN 224.00, +3.7%) led the list of gainers within our list of selected companies, followed by the SOFIX members Sirma Group Holding (SGH, BGN 1.08, +1.9%) and ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 October 2024
The Bulgarian equity market faced some selling pressure on Monday and settled all main indexes with losses in range between 1.11% to 0.69%. Downside bias was the result of widened Bid/Ask spreads for Bulgarian Real Estate Fund (BREF, BGN 3.84, -3.03%) and Chimimport (CHIM, BGN 0.705, -2.76%) and aggressive sellers of First Investment Bank (FIB, BGN 3.82, -4.98%) and Shelly Group (SLYG, EUR 33.50, -2.05%). The volumes slipped even more compared to previous trading sessions and remained below the ...
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