reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 6 October 2025
Cautious sentiment persisted on the Bulgarian equity market on Friday, as investors stayed on the sideline and the main indexes ended the week slightly changed. SOFIX (1 066.39, +0.07%) managed a modest gain, supported by a rebound in First Investment Bank (FIB, BGN 5.24, +1.55%), which helped offset weakness in Wiser Technologies (WISR, BGN 5.45, -2.68%) following the completion of its capital increase. Broader indexes drifted lower, with BGBX40 (193.62, -0.06%) and BGTR30 (946.48, -0.08%) weig...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 23 September - 26 September 2025
The Bulgarian stock market showed a modest performance over the past week, with all major indexes ending nearly flat on Friday. The benchmark SOFIX edged up by 0.1% to close at 1 066.97, while the other key indexes also finished in positive territory, posting gains between 0.1% and 0.5%. Trading activity remained subdued, as block deals and bond trades contributed to a higher-than-average weekly turnover (+29.34%), despite a significant year-to-date decline in volumes (-71.9%). Gradus (GR6, BGN ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 24 September 2025
The Bulgarian equities opened the shorter week on firmer footing, supported by broad-based buying. All major indexes gained between 0.13% and 0.47%, with advancers outnumbering decliners by a 7-to-5 margin. SOFIX was boosted by Bulgarian Stock Exchange (BSE, BGN 9.85, +3.14%), alongside strength in Elana Agrocredit (EAC, BGN 1.06, +1.92%), which rejoined the index, and Advance Terrafund (ATER, BGN 2.96, +1.37%). Additional gains in Stara Planina Hold (SPH, BGN 10.10, +3.06%) and Speedy (SPDY, BG...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 16 September 2025
The Bulgarian equities opened the week under pressure, with all major indexes finishing lower on broad-based selling. SOFIX (1 071.73, -0.55%) was dragged down by Advance Terrafund (ATER, BGN 2.86, -3.05%), while Speedy (SPDY, BGN 190.00, -3.06%) added weight on BGBX40 (194.36, -0.47%) and BGTR30 (956.29, -0.19%). Volumes remained moderate for the season, though block trades once again lifted the daily statistics, including activity in Eurohold (EUBG, BGN 1.82, -1.09%), Balkan and Sea Properties...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 9 September - 12 September 2025
Bulgarian equity markets ended the week on a cautious note, with most major indexes posting modest declines as participants reassessed positioning following the end of the summer season. The local benchmark SOFIX declined by 0.7%, closing at 1 077.62, while the broader BGBX40 (195.28, -0.2%) and BGTR30 (958.07, +0.1%) remained flattish. Industrial M+S Hydraulic (MSH, BGN 10.10, +5.2%) and SOFIX member Telematic Interactive Bulgaria (TIB, BGN 22.20, +2.8%) were on the top of the gainers in our li...
- 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 ...
- 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 - 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 - 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...
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