reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 1 September - 5 September 2025
The Bulgarian equity market delivered a mixed performance during the first week of September, as investors’ sentiment remained subdued and lacked a strong catalyst to drive a more decisive market direction. The benchmark SOFIX index edged up by 0.4%, closing at 1 085.72 points, while all the other major indices moved within a narrow range, between +0.1% and -0.4%. The top performer among the tracked stocks was Stara Planina Hold (SPH), which gained 4.2% to BGN 10.00. Sopharma (SFA) – a SOFIX con...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 September 2025
The Bulgarian equity market opened the week with sharp, broad-based moves that ultimately left the major indexes mixed. SOFIX (1 081.68, +0.01%) and BGBX40 (196.10, +0.26%) edged higher as gains in heavyweights Sopharma (SFA, BGN 2.67, +0.75%) and Shelly Group (SLYG, EUR 55.60, +0.72%) offset losses in First Investment Bank (FIB, BGN 5.28, -2.58%) and Sirma Group (SGH, BGN 1.37, -2.14%). By contrast, the BGTR30 (959.71, -0.11%) and BGREIT (230.73, -0.36%) slipped, dragged down by weakness in Neo...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 August 2025
The Bulgarian equity market extended its decline on Thursday, with SOFIX (1 052.98, -0.72%) posting the steepest loss among the main indexes. Technology names weighed heavily, led by weakness in Shelly Group (SLYG, EUR 53.60, -2.19%) and Sirma Group Holding (SGH, BGN 1.35, -2.88%). The pullback mirrored the softer global tone and was largely driven by large-cap stocks, while much of the broader market remained flat or inactive. Turnover was thin, with daily volumes at just 39% of the three-month...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 18 August 2025
The Bulgarian stock market closed in positive territory on Friday, with gains ranging from 0.06% to 0.33%. The benchmark SOFIX index rose the most, ending at 1 053.95 points, driven by strong performances of Shelly Group (SLYG, EUR 52.00, +2.77%) and Smart Organic (SO, BGN 31.40, +1.29%). On the downside, the negative impact came from heavy names like Chimimport (CHIM, BGN 0.735, -1.34%) and Sopharma (SFA, BGN 2.46, -0.81%). SOFIX daily turnover increased, with liquidity largely driven by tradin...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 July 2025
Selling pressure in key constituents Chimimport (CHIM, BGN 0.715, -2.05%) and Sopharma (SFA, BGN 2.44, -0.41%) nudged the SOFIX slightly lower by 0.03% to 1 042.97 on Wednesday. In contrast, the broader indexes outperformed, supported by gains in M+S Hydraulic (MSH, BGN 10.20, +2.51%) and Stara Planina Hold (SPH, BGN 9.30, +5.08%). The BGBX40 rose 0.21% to 192.00, while the BGTR30 added 0.19% to 951.29. Turnover remained well above average, driven in part by activity in less frequently traded st...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 July 2025
The announcement of a US-EU trade deal failed to lift sentiment on the Bulgarian Stock Exchange, as investors remained largely in wait-and-see mode. SOFIX slipped 0.29% to 1 038.57, weighed down by losses in Sopharma (SFA, BGN 2.42, -0.41%) and Bulgarian Real Estate Fund (BREF, BGN 5.05, -2.88%). Trading activity centered around companies linked to Chimimport (CHIM, BGN 0.73, 0.00%), including Holding Varna (HVAR, BGN 47.20, 0.00%), Balkan and Sea Properties (BSP, BGN 24.20, 0.00%), and Syntheti...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 21 July - 25 July 2025
Weekly turnover of BGN 32m doubled last week compared to the average YTD, while almost all local indexes remained unchanged except BGREIT 323.91 (+0.8%), which registered an insignificant positive move. Vacation season and the forthcoming release of H1 financial reports restrained investors’ activity, while the block trades and cash management ruled the trading. This week we will be closely monitoring the financial reports that are due to be published by Thursday, especially the industrial compa...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 July 2025
Bulgarian stocks were little changed in Thursday’s quiet session with light volumes keeping the main indexes flat. SOFIX slipped 0.05% to 1 043.42, with turnover at just 14% of the 3-month average. Sirma Group (SGH, BGN 1.44, +2.13%) and Smart Organic (SO, BGN 31.00, -1.90%) led the individual movers. Broader indexes BGBX40 (191.49, -0.04%) and BGTR30 (951.34, -0.04%) were also marginally lower, as losses in Bulmetal (BMTL, BGN 9.10, -2.15%) offset gains in Hydraulic Elements and Systems (HES, B...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 7 July - 11 July 2025
The Bulgarian stock market marked a stable week with less volatility amid subdued trading activity, as all major indexes closed on green , ranging from 1.4% to 3.0%. Benchmark SOFIX added 3.0% to settle at 1054.19, reflecting the strong performance of the index members Sopharma (SFA, BGN 2.60, +9.9%) and the powerhouse Shelly Group (SLYG, EUR 50.00, +5.5%). The top gainer within our list of selected companies was the industrial Stara Planina Hold (SPH, BGN 9.70, +13.5%), while the red side start...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 July 2025
The Bulgarian equity market ended Wednesday’s session on a positive note, led by strong performance from Shelly Group (SLYG, EUR 48.90, +2.30%), following the release of robust H1 preliminary results. Bulgarian Stock Exchange (BSE, BGN 9.15, +2.81%) also contributed significantly to the upbeat sentiment. The benchmark index SOFIX advanced to a new 18-year high, closing at 1 032.04, supported by gains in key constituents. However, broader market indexes lagged slightly, weighed down by declines i...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 23 June - 27 June 2025
Green color and huge weekly turnover set SOFIX at 1025.22 (+1.8%) – level we haven’t seen since September 2008. Weekly turnover tripled and reached BGN 44m., compared to the average one YTD of BGN 15.6m. Main distributors for the increased volume were Doverie Unted Holding’s buy-back and Sopharma’s sales of its treasury shares. The week was highlighted also by the first IPO this year of Green Innovation which raised almost BGN 8m. on Tuesday.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 24 June 2025
The Bulgarian equity market saw some sharp moves in the first day of the week but finally the main indexes finished with losses as the exception was BGREIT (220.53, +0.21%) supported by Advance Terrafund (ATER, BGN 2.83, +1.07%). The tech sector, represented by Shelly (SLYG, EUR 49.10, -2.19%), Wiser Technologies (WISR, BGN 5.25, -2.78%) and Sirma Group (SGH, BGN 1.37, -1.44%) met some profit taking action from the retail. The daily volumes barely reached 60% of the 3-months average though the t...
- Mihail Dimitrov
- Nadejda Dafinkicheva
Weekly bulletin - 27 May - 30 May 2025
The Bulgarian stock market closed the last week on a positive note with the exception of the sector index BGREIT (219.49, -0.6%). The benchmark SOFIX (999.39) was the top gainer with 1.8% rise, reflecting the impressive performance of the index members Bulgarian Stock Exchange (BSE, BGN 9.55, +11.0%), Doverie United Holding (DUH, BGN 9.0, +5.9 %) and high-tech blue chip Shelly Group (SLYG, EUR 45.70, +5.3%). Monbat (MONB, BGN 2.34, -6.4%) was the top loser on our list of selected securities, as ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 June 2025
SOFIX (999.39, +0.58%) closed a few ticks away from the psychological level of 1000, something we haven’t witnessed since 2008. The excellent Q1 financial results raised Doverie United Holding (DUH, BGN 9.00, +3.45%) while Sirma Group Holding (SGH, BGN 1.46, +2.10%) jumped on the back of buy-back buying power. Ex-dividend date weighed on Advance Terrafund (ATER, BGN 2.92, -2.01%) while Smart Organic (SO, BGN 31.20, -2.50%) and First Investment Bank (FIB, BGN 5.10, -1.54%) suffered from small spe...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 May 2025
Thursday session had a positive bias on Bulgarian Stock Exchange as the A-D line favoured the advancers in all major indexes. The buying activity was modest but on a broad base as Sirma Group (SGH, BGN 1.43, +4.38%), Bulgarian Stock Exchange (BSE, BGN 9.40, +3.30%), Sopharma Trading (SFT, BGN 5.80, +2.65%) and Compensatory Instruments (BLKD, BGN 0.424, +3.41%) led the movers. SOFIX (993.65) almost erased previous session losses by registering 0.62% gain, while the broad indexes BGBX40 (185.16, +...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 19 May - 23 May 2025
The Bulgarian stocks marked a positive week, while the global markets suffered pullbacks and volatility, as new threats were tapping the brakes on investor optimism. The local benchmark SOFIX added 2.6% to settle at 981.32 and the broader BGBX40 (183.32, +1.7%) and BGTR30 (922.11, +2.6%) moved similar. Three SOFIX members were the top gainers in our list of selected securities – the technology blue chips Sirma Group Holding (SGH, BGN 1.43, +19.2%) and Wiser Technologies (WISR, BGN 5.35, +7.4%) a...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 20 May 2025
The Bulgarian equities climbed in the first day of the week and returned to the positive trend with moderate widely based trading activity. All major indexes closed with gains in range between 0.06% and 0.33% as BGBX40 (180.91) ended on the top of the list. The buying interest in Bulgarian Stock Exchange (BSE, BGN 8.30, +2.47%) after the announcement of the shareholders agenda and Shelly Group (SLYG, EUR 43.50, +1.64%) attracted more investors in names like Neochim (NEOH, BGN 23.20, +2.65%), Ele...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 13 May 2025
Tech companies along with some financials led the Bulgarian equity market higher on the first trading day of the week and settled all major indexes on the positive side. SOFIX (938.04) closed 1.19% higher, while BGBX40 (177.66, +0.79%) and BGTR30 (892.96, +0.42%) underperformed the benchmark as the negative price actions in Neochim (NEOH, BGN 22.60, -4.24%) and Central Cooperative Bank (CCB, BGN 1.54, -1.91%) weighed on the final outcome for both broad indexes. The expectations for upcoming fina...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 May 2025
The Bulgarian stocks ended the week with no clear direction, as the leading local benchmark SOFIX lost 0.14% to close at 885.75. Trades with Advance Terrafund (ATER, BGN 3.02, -0.66%) formed more than half of SOFIX turnover, which pushed it above the 3-month average numbers. The top daily gainers within the benchmark were Doverie United Holding (DUH, BGN 8.24, +2.74 %), Bulgarian Stock Exchange (BSE, BGN 7.85, +2.61%) and Chimimport (CHIM, BGN 0.705, +2.17%). The high-tech blue chip Shelly Group...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 April 2025
It was a quiet trading day for the Bulgarian Stock Exchange on Monday. The market started the session without enthusiasm and only light-volume trades with Shelly (SLYG, EUR 33.10, -2.36%) and Eleven Capital (11C, BGN 13.80, -2.13%) weighed on the main indexes, which ended with losses in this trading session – SOFIX (885.54, -0.38%), BGBX40 (170.07, -0.28%) and BGTR30 (871.35, -0.19%). Block trade with Telematic Interactive (TIB, BGN 21.40) without a change in the price impacted the SOFIX daily v...
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