reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 8 April 2026
The first trading day of the week ended with notable losses on Tuesday, with SOFIX (1 206.06, -1.06%) finishing at the bottom of the performance table. Wiser Technology (WISR, EUR 1.98, -5.71%) and Doverie United Holding (DUH, EUR 5.60, -3.78%) led the laggards within the benchmark, where the bulk of the day’s trading activity was concentrated. Sirma Group Holding (SGH, EUR 0.95, +3.83%) and Gradus (GR6, EUR 0.575, +2.68%) provided a partial offset to the broader weakness, helping limit losses i...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 April 2026
Wednesday’s session was marked by heightened volatility, with trading occurring across widened bid-ask spreads and volumes falling below the 3-month average. Shelly Group (SLYG, EUR 52.20, +3.16%) and Wiser Technology (WISR, EUR 2.16, +2.86%) provided support to SOFIX (1 220.42, +0.02%), which managed to close marginally in positive territory. On the downside, Central Cooperative Bank (CCB, EUR 1.71, -4.47%), Elana Agrocredit (EAC, EUR 0.53, -2.75%), and First Investment Bank (FIB, EUR 3.10, -2....
- 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 - 27 March 2026
Positive sentiment raised SOFIX (1 219.80, +0.60%) on Thursday. Small speculative trades pushed Advance Terrafund (ATER, EUR 1.37, +2.24%), Sirma Group (SIRM, EUR 0.90, +1.69%) and Eurohold (EUBG, EUR 1.10, +1.85%) while Bulgarian Real Estate Fund (BREF, EUR 2.40, -0.83%) suffered from selling pressure and 45K changed hands. Sopharma (SFA, EUR 1.75, 0.00%) and Shelly (SLYG, EUR 51.00, 0.00%) registered more than 50% of daily turnover within SOFIX area but both company finished the day without ch...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 March 2026
SOFIX (1 203.76, -0.65%) closed negative as Wiser (WISR, EUR 2.10, +3.96%) was the only index members in the green zone on Tuesday. Shelly (SLYG, EUR 50.20, -3.46%) suffered from huge selling pressure while Elana Agrocredit (EAC, EUR 0.535, -1.83%), Sirma Group Holding (SIRM, EUR 0.90, -1.10%) and Advance Terrafund (ATER, EUR 1.35, -0.74%) lost altitude without significant daily volume. BGBX40 (207.06, -0.53%) slipped reflecting the drop of Gradus (GR6, EUR 0.50, -9.09%) and Eleven Capital (11C,...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 16 March - 20 March 2026
The Bulgarian stock market continued its downward trajectory over the past week, with all major indices closing firmly in negative territory. The benchmark SOFIX index declined by 3.2%, ending the week at 1 210.32 points. Broader indices followed a similar trend: the BGBX40 fell by 2.6% to 208.17 points, while the equally weighted BGTR30 index dropped 2.2%, finishing at 1 025.31 points. The sector-specific BGREIT index proved relatively more resilient, slipping by a modest 1.4% to 226.68 points....
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 March 2026
Quite opposite move of SOFIX (1 210.32, 0.00%) members fixed the main index unchanged on Friday. The jump of Sirma Group Holding (SIRM, EUR 0.915, +3.39%), First Investment Bank (FIB, EUR 3.16, +2.27%) and Sopharma (SFA, EUR 1.715, +2.08%) fully offset the drop of Eurohold (EUBG, EUR 1.03, -6.36%) and Wiser (WISR, EUR, 2.10, -1.87%). The trading session was highlighted by the transfer of 100.8m shares of Gradus (GR6, EUR 0.55, +27.91%) representing 40.9% of the company. BGBX40 (208.17, +0.46%) c...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 18 March 2026
Bloody red start of the week fixed all local indexes in the red zone on Monday. SOFIX (1 213.38, -1.47%) dropped the most, followed by BGBX40 (207.96, -1.34%), BGTR30 (1 032.06, -0.72%) and BGREIT (227.20, -0.16%) Huge selling pressure weighted on daily losers Shelly (SLYG, EUR 50.80, -9.29%), First Investment Bank (FIB, EUR 3.10, -4.02%), Sirma Group Holding (SIRM, EUR 0.95, -4.04%) and Chimimport (CHIM, EUR 0.444, -3.06%). Wiser (WISR, EUR 2.30, +3.60%) and Central Cooperative Bank (CCB, EUR 1...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 March 2026
The negative trend extended into the first trading day of the week, with all major indices posting notable losses. SOFIX (1 231.46, -1.49%) underperformed, as eleven of its fifteen constituents closed lower. The decline was led by Doverie United Holding (DUH, EUR 5.94, -3.57%) and Sirma Group (SIRM, EUR 0.99, -3.88%), both of which slipped below key psychological support levels of EUR 6.00 and EUR 1.00, respectively, adding to the negative sentiment. On the broader market, limited positive price...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 12 March 2026
The Bulgarian equity market recorded a positive session on Wednesday, with all major indices posting gains. Direction was largely driven by retail activity, as widened bid/ask spreads in recent choppy sessions allowed smaller orders to move prices more easily. Among the benchmark constituents, First Investment Bank (FIB, EUR 3.36, +3.38%), Shelly Group (SLYG, EUR 59.40, +2.77%), and Doverie United Holding (DUH, EUR 6.54, +2.19%) led the advance, pushing SOFIX (1 277.47, +0.70%) to the top of the...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 March 2026
The equities market reflected the prevailing weekly sentiment, with Friday’s session extending losses across the main indices in a range between 0.37% and 0.67%. The day’s laggards - Sirma Group Holding (SIRM, EUR 1.14, -8.06%), Chimimport (CHIM, EUR 0.436, -4.80%), First Investment Bank (FIB, EUR 3.38, -2.87%) and Wiser Technology (WISR, EUR 2.50, -2.34%) - weighed on SOFIX, which declined by 0.50% to 1 303.59 points, as the latest financial disclosures failed to trigger a positive market react...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 February 2026
The Bulgarian equity market experienced notable intraday volatility in the final trading session of the week, driven by low-volume price swings across a broad range of stocks. Despite these fluctuations, the major indices finished largely unchanged, leaving week-to-date performance broadly flat. SOFIX (1 353.00) closed at the same level as gains in Central Cooperative Bank (CCB, EUR 1.88, +3.30%) and Chimimport (CHIM, EUR 0.49, +4.26%) fully offset declines in Doverie (DUH, EUR 6.90, -2.54%), Fi...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 February 2026
The Bulgarian equity market faced mild selling pressure amid widened bid/ask spreads, pushing the main indices into negative territory on the first trading day of the week. Major averages moved largely in tandem with fluctuations across the broader market, with SOFIX (1 353.42) finishing in the middle of the pack, down by 0.69%. EMKA (EMKA, EUR 1.20, -5.51%) and Agria Group (AGH, EUR 5.50, -4.35%) led the session’s decliners, while Sopharma (SFA, EUR 1.90, -2.31%) slipped in the final minutes of...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 February 2026
The Bulgarian equities posted a mixed performance on the first trading day of the week, with turnover coming in below the YtD average. The main indices reflected the subdued activity, recording marginal gains in a narrow range between 0.01% and 0.06%. BGREIT (232.60) was the only index to finish lower, pressured by weakness in real estate names such as Bulgarian Real Estate Fund (BREF, EUR 2.70, -1.46%) and Advance Terrafund (ATER, EUR 1.395, -1.06%). The modest positive bias in SOFIX (1 354.69,...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 February 2026
Bloody start of the week fixed SOFIX at 1 354.78 (-1.46%). Chimimport (CHIM, EUR 0.51, -10.53%) and First Investment Bank (FIB, EUR 3.42, -7.07%) slumped with insignificant daily volume while Doverie United Holding (DUH, EUR 6.88, -3.64%) dropped under a moderate selling pressure on Monday. Sirma Group Holding (SGH, EUR 1.24, -3.88%) disappointed investors with poor Q4’25 financial performance and the IT holding lost altitude with small daily turnover. Sopharma Trading (SFT, EUR 3.84, -4.00%) an...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 February 2026
It appeared that the fresh 18-year highs reached in recent sessions attracted increased profit-taking, as the Bulgarian equity market came under selling pressure on Friday, echoing the cautious sentiment from global markets. SOFIX (1 374.91, -0.76%) closed lower, weighed down by declines in Shelly Group (SLYG, EUR 68.00, -2.30%) and First Investment Bank (FIB, EUR 3.68, -2.13%), despite the absence of any negative surprises in the latest financial disclosures. On a broader base, Eleven Capital (...
- 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 ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 January 2026
The major indexes extended their advance on Wednesday, supported by strength in the technology sector, led by Wiser Technologies (WISR, EUR 2.82, +0.71%), Sirma Group (SGH, EUR 1.29, +0.78%), and Shelly Group (SLYG, EUR 70.20, +0.29%). At the same time, weakness in Central Cooperative Bank (CCB, EUR 1.90, -3.55%) and Elana Agrocredit (EAC, EUR 0.545, -2.68%) capped the upside, leaving SOFIX (1 405.08, +0.19%) with a modest gain as it continued to hover near last week’s fresh 18-year high. Invest...
- 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 - 22 January 2026
The Bulgarian equity market entered a phase of consolidation after reaching an 18-year record high, with the main indexes posting their first losses since the beginning of the year. Recent top performer Chimimport (CHIM, EUR 0.585, -7.14%) led the pullback, followed by Sirma Group (SGH, EUR 1.20, -2.44%) and Elana Agrocredit (EAC, EUR 0.55, -2.65%). Profit-taking activity dominated the session, while trading volumes within SOFIX (1 395.85, -1.33%) remained below the 3-month average, indicating a...
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