reports
- 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
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 - 22 July 2025
A mixed trading session fixed SOFIX (1 045.48, +0.18%) positive. The north moves of Shelly (SLYG, EUR 49.90, +2.46%), Bulgarian Real Estate Fund (BREF, BGN 5.20, +0.97%) and Telematic Interactive (TIB, BGN 22.60, +0.89%) offset the negative impact of Wiser (WISR, BGN 5.15, -2.83%), First Investment Bank (FIB, BGN 5.06, -1.17%) and Chimimport (CHIM, BGN 0.74, -1.33%). Advance Terrafund (ATER, BGN 2.98, -0.67%) stepped back but BGREIT (231.19, +0.06%) closed in the green zone. Overall liquidity re...
- 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
- 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
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 - 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
Weekly bulletin - 14 April - 17 April 2025
The Bulgarian stocks marked a mixed week, as during the four trading days, the local benchmark SOFIX added 0.4% to settle at 885.82. The broader BGBX40 (169.95, +0.5%) and BGTR30 (865.83, -1.8%) ended in opposite directions. In this shortened trading week the turnover barely reached 49% of its YTD average, while block deal with one illiquid name pushed the volumes (+186.9% YTD avg.) to an unusual level. The weekly top performers within our selected companies were Trace Group Hold (T57, BGN 6.0, ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 15 April 2025
Low trading activity in widened Bid/Ask spreads caused mixed outcomes for the major indexes on Bulgarian equity market on the first day of the week. The surge of Chimimport (CHIM, BGN 0.695, +3.73%) was not enough to place SOFIX (879.45, -0.39%) above the surface as the decliners led by 6-to-1 margin the advancers in this session. The broad indexes took advantage from Bulmetal (BLMT, BGN 8.70, +2.35%), Gradus (GR6, BGN 1.09, +4.81%) and Stara Planina (SPH, BGN 8.50, +6.25%) and outperformed the ...
- 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
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 - 28 February 2025
Despite of the drop of the heaviest index members SOFIX (905.43, +0.77%) crossed 905 psychological level on Thursday. Shelly Group (SLYG, EUR 37.70, -1.57%) and Bulgarian Real Estate Fund (BREF, BGN 4.18, -0.95%) weighed on the main index but the negative impact was fully offset by Eurohold (EUBG, BGN 1.91, +5.52%), Central Cooperative Bank (CCB, BGN 1.70, +3.66%) and Agria (AGH, BGN 21.00, +2.44%). Overall liquidity remained poor as most Q4 2025 results show moderate performance.
- 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
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...
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