reports
- 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
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 - 27 August 2025
A block trade and positive sentiment in the end of the trading session lifted Bulgarian Real Estate Fund (BREF, BGN 5.20, +1.96%) while speculative trades fixed Bulgarian Stock Exchange (BSE, BGN 9.35, +0.54%) and Eurohold (EUBG, BGN 1.85, +0.54%) positive. SOFIX (1 068.73) remained unchanged due to the south move of tech companies Shelly (SLYG, EUR 57.00, -0.70%) and Sirma Group Holding (SGH, BGN 1.36, -1.45%). Chimimport (CHIM, BGN 0.725, -2.68%) also plunged on Tuesday on the back of speculat...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 22 August 2025
The Bulgarian equity market extended its decline on Thursday, with SOFIX (1 052.98, -0.72%) posting the steepest loss among the main indexes. Technology names weighed heavily, led by weakness in Shelly Group (SLYG, EUR 53.60, -2.19%) and Sirma Group Holding (SGH, BGN 1.35, -2.88%). The pullback mirrored the softer global tone and was largely driven by large-cap stocks, while much of the broader market remained flat or inactive. Turnover was thin, with daily volumes at just 39% of the three-month...
- 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....
- 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 - 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 - 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
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...
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