reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 5 May - 9 May 2025
The Bulgarian stock market finished the last week on an upbeat mode as world markets continued to recover from the sharp pullback during the last months. The positive sentiment pushed the benchmark SOFIX up with 3.7% to settle at 927.04, while all other major indexes closed in green, ranging from 2.8% to 0.1%. The news about starting the procedure for dual listing of Sirma Group Holding (SGH, BGN 1.21, +11.0%) put the company on the top of the gainers in our list of selected securities, followed...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 12 May 2025
The Bulgarian equity market continued to surprise the investors with gains on a broad base in the last trading day on the week. SOFIX (927.04, +1.24%) recorded new 18-years high following the advance of the financial sector, represented by First Investment Bank (FIB, BGN 4.50, +3.69%), Central Cooperative Bank (CCB, BGN 1.57, +1.29%) and Chimimport (CHIM, BGN 0.72, +2.13%), though there was lack of news around the names and the buying interest was more spontaneous. BGBX40 (176.26, +0.77%) and BG...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 8 May 2025
The Bulgarian equity market had a mixed showing on Wednesday, though all major indexes registered gains in range between 0.25% and 0.66% led by the tech sector. The news about started procedure for dual listing of Sirma Group (SGH, BGN 1.17, +5.41%) attracted investors and the price quickly reached BGN 1.18 as the optimism spread out and Shelly Group (SLYG, EUR 35.20, +1.44%) met some buying interest too. The trading activity was widely based and the volumes improved significantly compared to pr...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 April 2025
The Bulgarian equity market continued to be sluggish and the main indexed finished with small changes on Wednesday. Shelly (SLYG, EUR 33.70, +1.81%) and First Investment Bank (FIB, BGN 3.98, +1.53%) supported the indexes with moderate buying interest, while Eleven Capital (11C, BGN 13.00, -5.80%) and Agria Group (AGH, BGN 21.60, -3.57%) took over some sell pressure and placed BGTR30 (868.18, -0.36%) on negative territory. The volumes remained low as the trading activity was poor, though block tr...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 29 April 2025
It was a quiet trading day for the Bulgarian Stock Exchange on Monday. The market started the session without enthusiasm and only light-volume trades with Shelly (SLYG, EUR 33.10, -2.36%) and Eleven Capital (11C, BGN 13.80, -2.13%) weighed on the main indexes, which ended with losses in this trading session – SOFIX (885.54, -0.38%), BGBX40 (170.07, -0.28%) and BGTR30 (871.35, -0.19%). Block trade with Telematic Interactive (TIB, BGN 21.40) without a change in the price impacted the SOFIX daily v...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 14 April - 17 April 2025
The Bulgarian stocks marked a mixed week, as during the four trading days, the local benchmark SOFIX added 0.4% to settle at 885.82. The broader BGBX40 (169.95, +0.5%) and BGTR30 (865.83, -1.8%) ended in opposite directions. In this shortened trading week the turnover barely reached 49% of its YTD average, while block deal with one illiquid name pushed the volumes (+186.9% YTD avg.) to an unusual level. The weekly top performers within our selected companies were Trace Group Hold (T57, BGN 6.0, ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 April 2025
The Bulgarian equity market met some low-volume buying interest , which left all major indexes with additional value in the pockets on Wednesday. The positive bias came from Chimimport (CHIM, BGN 0.705, +3.68%), First Investment Bank (FIB, BGN 3.94, +3.68%) and Doverie (DUH, BGN 8.10, +2.02%) for SOFIX (887.19, +0.83%) and Neochim (NEOH, BGN 24.00, +2.56%) and Emka (EMKA, BGN 1.99, +2.05%) for the broad indexes – BGXB40 (170.28, +0.64%) and BGTR30 (868.26, +0.61%). The order book weakened and th...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 7 April - 11 April 2025
The global equity markets recouped some of the recent losses, following the mix of positive and negative headlines, but uncertainty and volatility remained worldwide. The Bulgarian stock market did not manage to find support and indexes finished the week mainly on the red side. The local benchmark SOFIX added 0.4% to settle at 882.88, while the broader BGBX40 (169.02, -0.4%) and BGTR30 (863.70, -2.1%) moved in opposite direction. SOFIX member Sirma Group Holding (SGH, BGN 1.08, +5.9%) and indust...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 April 2025
After the turmoil on the world markets, the Bulgarian stock exchange also registered huge fluctuations and uncertainty which set SOFIX at 873.59 (-0.58%). The US market became a casino with enormous daily fluctuations thus influencing all investors worldwide. Despite moderate financial performance Smart Organic (SO, BGN 26.80, -2.19%), Shelly (SLYG, EUR 32.80, -2.09%) and First Investment Bank (FIB, BGN 3.78, -2.58%) weighed on the main index and fully offset the positive move of Sirma Group Hol...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 9 April 2025
The Bulgarian equity market rebounded on Tuesday by eliminating the previous session decline and all major indexes registered gains in range between 0.39% and 1.79% with BGBX40 (168.21) on top. The positive bias came from moderate-volume trades led by Sirma (SGH, BGN 1.06, +6.00%), Smart Organic (SO, BGN 27.40, +5.38%), Wiser Technologies (WISR, BGN 4.72, +5.36%) and Sofia Commerce (SCOM, BGN 6.80, +7.94%) in widen Bid/Ask spreads. The trading activity was focused on the offer side, though the t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 April 2025
The volatile trading session did not change SOFIX 902.49 (-0.02%) on Thursday. Positive start of the day rapidly made a turn in the late afternoon and Central Cooperative Bank (CCB, BGN 1.56, -3.70%), Sirma Group Holding (SGH, BGN 1.07, -3.60%) and Smart Organic (SO, BGN 27.00, -2.88%) dove into the red zone. The negative impact on the main index was fully offset by the positive move of heavy Eurohold (EUBG, BGN 1.92, +1.05%), Sopharma (SFA, BGN 5.82, +0.34%) and First Investment Bank (FIB, BGN ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 28 March 2025
The Bulgarian equity market had a mixed showing on Thursday with low volatility among active names. Positive price action with Chimimport (CHIM, BGN 0.735, +2.08%), placed SOFIX (903.42, +0.20%) and BGTR30 (879.53, +0.10%) slightly above previous day levels, while logged losses of Korado (KBG, BGN 4.20, -2.78%) and M+S Hydraulic (MSH, BGN 9.30, -3.63%) weighed on BGBX40 (172.93) and the broad index declined by 0.02%. The daily volumes continued to be comparable with the 15-days average within th...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 27 March 2025
The Bulgarian equity market trades were registered mainly on the bid side on Wednesday. The main indexes closed mixed as SOFIX (901.66, -0.57%) reflected fully the daily activity with volumes concentrated in it. The negative bias came from Bulgarian Stock Exchange (BSE, BGN 7.65, -2.55%), First Investment Bank (FIB, BGN 4.00, -3.85%) and Chimimport (CHIM, BGN 0.72, -1.37%) as the names led the top losers’ list, while the positive price actions with Agria Group (AGH, BGN 23.00, +2.68%), Neochim (...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 26 March 2025
The major equity indexes rebounded on Tuesday and totally erased previous session losses on BSE. The positive price actions pushed up SOFIX (906.87) modestly by 0.45%, driven by the gains of Bulgarian Stock Exchange (BSE, BGN 7.85, +2.61%) and First Investment Bank (FIB, BGN 4.16, +4.00%). There was negative bias under the broad indexes surface in names like Neochim (NEOH, BGN 24.00, -4.00%), Monbat (MONB, BGN 2.64, -1.49%) and Gradus (GR6, BGN 1.15, -1.71%), which limited the daily gains for BG...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 March 2025
The Bulgarian market had a rough showing on Friday though the initial selling pressure in the early hours was replaced by more optimistic price actions at the end on the session. The major indexes settled mixed as Agria Group (AGH, BGN 20.40, -2.86%) and the heavy member Shelly Group (SLYG, EUR 37.50, -0.53%) weighed on the indexes, while M+S Hydraulic (MSH, BGN 9.35, +2.19%) and Smart Organic (SO, BGN 26.20, +2.34%) recovered the losses on the opposite side. SOFIX (904.25, -0.13%) slipped below...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 3 February - 7 February 2025
The Bulgarian stock market continued the modest rise during the past trading week, while global shares performed mixed on worries of a possible global trade war. The local benchmark SOFIX added 0.2% to settle at 894.30 and the broader BGBX40 (172.15, +0.7%) and BGTR30 (861.81, +0.3%) moved similarly. One industrial and one technology blue chips were the top gainers within our list of selected companies – M+S Hydraulic (MSH, BGN 9.45, +5.0%) and Wiser Technologies (WISR, BGN 5.05, +3.90%). Indust...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 5 February 2025
It was a quiet trading session with low trading activity in widened Bid/Ask spreads, which settled the main indexes on positive territory on Tuesday. The positive bias came after small trades with previous session’s top losers Chimimport (CHIM, BGN 0.71, +2.16%) and Sinergon Holding (SNRG, BGN 1.12, +8.74%), while additional power for the broad indexes came from Wiser Technologies (WISR, BGN 4.96, +2.90%) and Telelink Business Services Group (TBS, BGN 9.95, +3.11%). The real estate sector lost w...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 January 2025
There was some increased activity under the surface on a broad range of sectors, though the main indexes settled near previous session’s levels. Sirma Group (SGH, BGN 0.97, +2.11%) led the gainers and together with increased value of the real estate sector, settled SOFIX (891.87, +0.33%) and BGREIT (213.56, +0.11%) with gains. The widened Bid/Ask spreads accelerated the negative effect of the light-volume trades with Smart Organic (SO, BGN 23.40, -4.88%) and Stara Planina (SPH, BGN 8.65, -3.89%)...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 January 2025
The Bulgarian equity market had some mixed showing on Wednesday, though the trading activity was concentrated more on current market levels, while the light volume trades dictated the direction. The bank sector, represented by First Investment Bank (FIB, BGN 4.30, +4.37%), Central Cooperative Bank (CCB, BGN 1.69, +3.68%) and Bulgarian American Credit Bank (BACB, BGN 12.50, +8.70%) gave the positive bias, while Elana Agrocredit (EAC, BGN 1.07, -2.73%) and M+S Hydraulic (MSH, BGN 9.10, -7.91%) led...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Bulgaria Outlook 2025
OUTLOOK 2025 – 6 VALUE STOCKS FOR YOUR PORTFOLIO Bulgaria's economy showed resilience despite the world and domestic challenges. In the first three quarters of 2024, the country posted steady annual GDP growth of 1.9% in Q1, 2.3% in Q2 and 2.6% in Q3 (non-seasonally adjusted data). The main drivers behind the growth were the individual and government consumption, which accelerated their contribution throughout the three quarters. Inflation has been on a downward trend, aligning with global ...
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