reports
- 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 - 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 - 28 August 2025
Retail investors and speculators rule the trading and SOFIX 1 068.10 (-0.06) fluctuated without significant daily volume on Wednesday. Heavy Shelly (SLYG, EUR 55.80, -2.11%) and Wiser (WISR, BGN 5.60, -1.75%) retreated during the day as bid/ask spreads of both companies remained 3-5% wide. Sopharma (SFA, BGN 2.50, +0.81%) and First Investment Bank (FIB, BGN 5.42, +2.65%) supported the main index without corporate news, while moderated financial performance of Sirma Group Holding (SGH, BGN 1.38, ...
- 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 - 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 - 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
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...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 16 July 2025
The Bulgarian Stock Exchange indexes weakened on Tuesday, with SOFIX slipping by 0.38% to close at 1 053.22. Over two-thirds of the benchmark turnover came from Sopharma (SFA, BGN 2.60, -2.26%) as the stock price suffered increased selling pressure. The top performer within SOFIX was Central Cooperative Bank (CCB, BGN 1.74, +3.57%), while Sopharma (SFA), Bulgarian Stock Exchange (BSE, BGN 9.00, -1.10%) and Telematic Interactive (TIB, BGN 22.40, -0.88%) lost the most. The broader indices also pos...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 July 2025
The Bulgarian equity market extended its gains on the last trading day of the week, driven by strong performance in the technology and light industry sectors. All major indexes closed in positive territory, posting gains between 0.66% and 1.63%. SOFIX rose by 1.63% to 1 054.19, marking a fresh 18-year high. Wiser Technologies (WISR, BGN 5.30, +4.95%) and Shelly Group (SLYG, EUR 50.00, +1.63%) were among the key contributors to the overall market advance. Meanwhile, Sopharma Buildings (SFB, BGN 1...
- 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 - 30 June 2025
The Bulgarian benchmark index SOFIX climbed 1.12% to 1025.22, reaching a record 16-year high on the final trading day of the week. The rise was driven by strong performances from Bulgarian Real Estate Fund (BREF, BGN 4.94, +2.23%) and Sopharma (SFA, BGN 7.00, +6.06%). Meanwhile Neochim (NEOH, BGN 22.00, -2.65%) and Albena (ALB, BGN 26.20, -2.96%) traded lightly and curbed the broader market’s momentum. As a result, BGBX40 and BGTR30 posted modest gains of 1.17% (188.81) and 0.76% (942.08), respe...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 16 June - 20 June 2025
The Bulgarian stock market did not manage to find support during the past week and indexes finished the week mainly on the red side, as the benchmark SOFIX (1007.57, +0.1%) was the only one in green. Three index members – Shelly Group (SLYG, EUR 50.20, +5.7%), Wiser (WISR, BGN 5.40, +1.9%) and Sopharma Trading (SFT, BGN 5.80, +0.9%) were on the top of the gainers within our list of selected securities. On the other side, Speedy (SPDY, BGN 190.00, -5.0%) and Alcomet (ALCM, BGN 5.95, -4.8%) lost t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 June 2025
Poor trading activity marked the first trading day of the week. The major indexes trended lower from the opening bell as the decliners led the advancers in roughly 4-to-3 margin. Telematic Interactive (TIB, BGN 22.60, +4.63%) and Sirma Group (SGH, BGN 1.44, +1.41%) led the gainers in this trading session, while Bulgarian Stock Exchange (BSE, BGN 9.30, -2.11%) and Speedy (SPDY, BGN 190.00, -5.00%) ended on the opposite side. The daily volumes slipped significantly below the 15-day average as the ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 9 June - 13 June 2025
The main indexes on the BSE retreated last week with the exception of BGREIT (221.17; +0.6% WoW). The blue-chip SOFIX (1006.98) lost 0.6%, while the wider BGBX40 lost the most (187.06; -0.7% WoW). The top gainer within our universe was Bulgarian Real Estate Fund (BREF, BGN 4.88, +4.7%), while Shelly Group (SLYG, EUR 47.5, -4.8%) and Telematic Interactive Bulgaria (TIB, BGN 21.60, -4.4%) lost the most. Both the volumes (+123.1% YtD) and the weekly turnover (+156.2% YtD) were well above their YtD ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 11 June 2025
The Bulgarian equity market finished strong on Tuesday, leaving the major indexes at fresh record highs. The broad base buying activity left SOFIX (1 017.91) with 0.89% gain, followed by BGBX40 (189.33, +0.69%) and BGTR30 (941.90, +0.44%). Bulgarian Real Estate Fund (BREF, BGN 4.90, +6.06%) and the heavy-weighted Sopharma (SFA, BGN 6.68, +3.73%) and Shelly (SLYG, EUR 50.80, +2.01%) attracted the most investors focus with higher than 3-month average volume. Doverie (DUH, BGN 9.14, -0.87%), Advanc...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 2 June - 6 June 2025
The Bulgarian stock market continued the positive trend during the past week, as all major indexes closed on green, ranging from 0.1% to 1.4%. The benchmark SOFIX added 1.4% to settle at 1012.91, reflecting the impressive performance of the index members Doverie United Holding (DUH, BGN 9.28, +5.2%) and the powerhouse Shelly Group (SLYG, EUR 49.90, +9.2%). The top gainer within our list of selected companies was industrial Stara Planina Hold (SPH, BGN 9.10, +11.0%), while the red side started wi...
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