reports
- 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...
- 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 - 4 September 2025
The Bulgarian equity market traded mostly on the bid side, with all major indexes closing in positive territory. The upward momentum was driven by heavyweight Sopharma (SFA, BGN 2.73, +1.49%), further supported by Chimimport (CHIM, BGN 0.73, +1.39%). These gains offset declines in First Investment Bank (FIB, BGN 5.18, -2.63%), Hydraulic Elements & Systems (HES, BGN 4.90, -3.92%), and Gradus (GR6, BGN 1.00, -3.85%). Daily volumes remained subdued compared to the 3-month average on a benchmark bas...
- 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 ...
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 - 14 August 2025
Huge opposite move of SOFIX (1 051.29, -0.12%) members fixed the main index almost unchanged on Wednesday. Wiser (WISR, BGN 5.85, +3.54%) registered large move with insignificant daily turnover, which was fully offset by the step back of Bulgarian Real Estate Fund (BREF, BGN 5.20, -1.89%), Sirma Group Holding (SGH, BGN 1.38, -1.43%) and the heavy member Shelly (SLYG, EUR 50.60, -0.39%). All other indexes lost altitude but BGREIT (232.60, -0.53%) lost the most, reflecting the negative move of mai...
- 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 - 5 August 2025
Slight decrease of SOFIX (1 039.68, -0.07%) reflected the drop of Telematic Interactive (TIB, BGN 22.20, -2.63%), Chimimport (CHIM, BGN 0.725, -2.03%) and Sirma Group Holding (SGH, BGN 1.42, -1.39%) on Monday. Support for the main index came from Wiser (WISR, BGN 5.65, +1.80%) and Bulgarian Real Estate Fund (BREF, BGN 5.15, +0.98%). Sopharma (SFA, BGN 2.44, -0.41%) registered BGN 1.92m daily turnover as a block trade with 770k shares was registered at BGN 2.43.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 28 July - 1 August 2025
Moderate performance in Q2 reports published last week waned investors sentiment. Local indexes remained unchanged despite the increased weekly turnover (BGN 52.5m) mainly registered by block trades. Huge opposite moves of SOFIX members fixed the main index at 1040.37 (-0.1) as Shelly Group (SLYG, EUR 48.60, -1.8%), Bulgarian Real Estate Fund (BREF, BGN 5.10, -1.9%) and CB Central Cooperative Bank (CCB, BGN 1.71, -1.7%) wiped out the positive moves of Wiser Technology (WISR, BGN 5.55, +2.8%), Ch...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 August 2025
SOFIX 1040.03 lost 0.28% on Thursday thus finishing the month in the red zone with moderate daily turnover. Heavy Shelly (SLYG, EUR 49.00, -1.61%) and Eurohold (EUBG, BGN 1.84, -0.54%) suffered from selling pressure and weighed on the main index. Daily loser Telematic Interactive (TIB, BGN 22.40, -2.61%) registered insignificant daily volume and speculative trades fixed the gambling operator in negative territory. Support for the main index came from Chimimport (CHIM, BGN 0.725, +1.40%) and Bulg...
- 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 - 28 July 2025
Huge selling pressure on Shelly (SLYG, EUR 49.50) and Bulgarian Real Estate Fund (BREF, BGN 5.20) settled both companies unchanged on Friday. SOFIX 1041.64 (-0.17%) slightly retreated on the ground of moderate daily turnover. Sopharma (SFA, BGN 2.43, -1.22%) ceased its positive wave during the week after the release of the new dividend shares for trading. Sirma Group (SGH, BGN 1.43, -0.69%) and Bulgarian Stock Exchange (BSE, BGN 9.00, -0.55%) also weighed on the main index by losing altitude wit...
- 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
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 - 13 July - 18 July 2025
The past week was negative for the major indexes on the Bulgarian Stock Exchange, with SOFIX (1 043.55) recording the largest decline, down 1.0%. Key underperformers from our watchlist that dragged the indexes lower included Neochim (NEOH, BGN 20.00, -7.4%), Stara Planina Hold (SPH, BGN 9.00, -7.2%), and Sopharma (SFA, BGN 2.49, -4.2%). In contrast, BGREIT (231.04) edged up by 0.05%, supported by gains in its heaviest constituents – Advance Terrafund (ATER, BGN 3.00, +0.7%) and Bulgarian Real Es...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 July 2025
Wednesday’s session was subdued, with decliners outpacing advancers by a roughly 2-to-1 margin, pushing the major indexes into negative territory. SOFIX declined by 0.17% to 1 051.45, weighed down by losses in Smart Organic (SO, BGN 31.80, -1.24%) and Advance Terrafund (ATER, BGN 2.96, -1.33%). On a positive note, Bulgarian Real Estate Fund (BREF, BGN 5.10, +2.41%) was among the top gainers, helping the BGREIT index to edge up by 0.21% to 229.95. Overall trading activity weakened, with volumes s...
- 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...
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