reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 March 2026
Enormous opposite moves of index members lowered SOFIX to 1 213.31 (-0.21%) on Monday. The selling pressure weighed on Central Cooperative Bank (CCB, EUR 1.71, -2.29%) and Shelly (SLYG, EUR 49.80, -1.58%) while Wiser (WISR, EUR 2.10, -4.55%), Chimimport (CHIM, EUR 0.438, -2.23%) and Sopharma (SFA, EUR 1.75, -1.41%) lost altitude without significant daily volume. Sirma Group Holding (SGH, EUR 0.96, +6.67%), Doverie United Holding (DUH, EUR 5.90, +1.72%) and First Investment Bank (FIB, EUR 3.14, +...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 11 March 2026
Trading activity weakened on Tuesday, with only a few index constituents registering volumes above the three-month average. SOFIX (1 268.58, -0.27%) edged lower, largely due to the decline in heavyweight Shelly Group (SLYG, EUR 57.80, -1.70%), which weighed on the benchmark. On the broader market, Speedy (SPDY, EUR 88.00, -3.30%) and Telelink Business Services (TBS, EUR 5.45, -6.84%) led the declines, pushing BGBX40 (215.58, -0.55%) lower for the session. Overall, the subdued trading activity me...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 March 2026
The Bulgarian equity market experienced heightened volatility during the first trading session of the shortened week surrounding Liberation Day of Bulgaria. Investor sentiment was mixed as market participants reacted to escalating geopolitical tensions related to Iran and the broader implications of the conflict. Aggressive selling pressure emerged in names such as Wiser Technology (WISR, EUR 2.40, -4.00%), Eurohold Bulgaria (EUBG, EUR 1.06, -3.64%), and Shelly Group (SLYG, EUR 57.80, -2.36%). A...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 27 February 2026
The major averages finished mostly lower on Thursday, weighed down by the continued momentum of this week’s sell-off. Sirma Group (SIRM, EUR 1.24, -3.88%) led the declines within the benchmark, while on a broader market basis M+S Hydraulic (MSH, EUR 5.10, -3.77%) and Eleven Capital (11C, EUR 8.60, -2.82%) also featured among the session’s laggards, as aggressive sell orders dominated trading in these names. Trading volumes continued to contract, reflecting investors’ cautious stance amid ongoing...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 26 February 2026
The Bulgarian equity market extended its decline, posting another negative session amid continued selling pressure in the technology and financial sectors. SOFIX (1 319.53) fell by 0.83%, leaving the benchmark 8.7% below its recent 18-year high recorded earlier this year. Within the index, Shelly Group (SLYG, EUR 60.20, -3.22%) and Doverie United Holding (DUH, EUR 6.62, -2.65%) led the laggards. On a broader market basis, weakness was further reinforced by sharp declines in Petrol (PET, EUR 0.32...
- 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 - 2 December 2025
The Bulgarian equity market faced a broader-based session at the start of December, resulting in mixed moves across the major indexes. BGBX40 (195.15, +0.21%) led the gainers as Doverie (DUH, BGN 9.52, +3.03%) and Eleven Capital (11C, BGN 16.50, +2.48%) supported the advance, while Neochim (NEOH, BGN 23.00, +15.00%) surged the most, boosted by an unusually high-volume trade executed at the session’s peak price. The daily turnover continued to exceed the 3-month average on a broader front — a tre...
- 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
Morning Bulletin - 26 November 2025
The Bulgarian equities extended their benchmark-led advance for a second consecutive session this week, sending SOFIX (1 086.47, +0.57%) to within a tick of its 18-year high. For the broader indexes — BGBX40 (194.37, +0.33%) and BGTR30 (945.97, +0.27%) — the upward momentum was more muted, as a notable share of constituents remained untraded or little changed. Bulgarian Stock Exchange (BSE, BGN 11.30, +4.63%) and First Investment Bank (FIB, BGN 5.08, +2.63%) regained buying interest and anchored...
- 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 - 20 October 2025
Huge dividend distribution from Bulgarian Stock Exchange (BSE, BGN 10.60, +10.42%) pushed SOFIX (1 073.93, +0.74%) up on Friday. IT companies Sirma Group Holding (SGH, BGN 1.44, +2.13%) and Wiser (WISR, BGN 5.40, +1.89%) offset the drop of Shelly (SLYG, BGN 54.80, -1.08%) with bigger than regular daily turnover. The wider BGBX40 (193.74, +0.46%) also gained altitude on the back of Monbat (MONB, BGN 1.95, +2.63%) and Sofia Commerce Pawn Brokerage (SCOM, BGN 8.40, +3.07%).
- 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 - 1 September 2025
The Bulgarian equity market shook off early weakness on Friday to close the week and the month on a positive note. Heavyweight Shelly Group (SLYG, EUR 55.20, -3.83%) pressured the market in early trade, but upbeat financial results lifted sentiment in Sopharma (SFA, BGN 2.65, +5.16%) and Doverie United Holding (DUH, BGN 9.30, +2.42%), helping major indexes reverse course. SOFIX (1 081.60, +0.45%) rose for a second straight session, marking another fresh 18-year high. The real estate sector also ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 21 August 2025
Negative sentiment weighed on all local indexes on Wednesday. BGREIT (230.35, -0.54%) slipped the most as the drop of Bulgarian Real Estate Fund (BREF, BGN 5.20, -2.80%) erased the positive move of Advance Terrafund (ATER, BGN 2.97, +0.34%). SOFIX (1 060.63, -0.10%) barely survived the selling pressure among most of the index members. The support for the main index came from Shelly (SLYG, EUR 54.80, +1.86%), Telematic Interactive (TIB, BGN 22.00, +0.92%) and Central Cooperative Bank (CCB, BGN 1....
Morning Bulletin - 20 August 2025
The Bulgarian equity market advanced on Tuesday, led by heavyweight Shelly Group (SLYG, EUR 53.80, +2.28%) and Holding Varna (HVAR, BGN 47.40, +1.72%). Broader support came from light-volume gains in EMKA (EMKA, BGN 1.99, +2.58%), Speedy (SPDY, BGN 198.00, +3.13%), and Stara Planina Hold (SPH, BGN 9.70, +2.11%), lifting BGBX40 (193.90, +0.69%) and BGTR30 (958.39, +0.35%). Turnover surged in the session, boosted by a significant block trade in Bulgarian Stock Exchange (BSE, BGN 9.35, -0.53%). Sec...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 6 August 2025
Profit-taking dominated the Bulgarian equity market on Wednesday, sending all major indexes lower in a range from 0.27% to 0.48%. Losses were broad-based with notable declines in Sirma Group (SGH, BGN 1.36, -4.23%), Bulgarian Stock Exchange (BSE, BGN 8.85, -2.21%), Bulgarian Real Estate Fund (BREF, BGN 5.10, -0.97%), and Trace Group (T57, BGN 6.10, -6.15%) weighing on sentiment. Trading activity picked up sharply with daily turnover climbing well above recent averages. Sopharma (SFA, BGN 2.46, +...
- 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...
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