reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 19 June 2024
The announcement that 2.7% of Shelly (SLYG, BGN 68.40, -2.01%) were sold OTC at BGN 64.54 (EUR 33) by the majority shareholders disappointed investors and the company dropped by 2.01% thus weighing on the main index SOFIX (848.43, -0.44%). Agria (AGH, BGN 20.70, -2.36%) and Sopharma (SFA, BGN 5.86, -1.68%) also lost altitude with small daily turnover. The expected dividend distribution by the Moldavian bank raised Doverie United Holding (DUH, BGN 8.82, +2.56%) with moderate daily volume on Tuesd...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 June 2024
The major indexes saw some choppy actions on the Bulgarian equity market on Friday, which turn to be the last day of the month as the widened Bid/Ask spreads allowed retail to dictate the moves. The bank sector, represented by First Investment Bank (FIB, BGN 4.56, +4.11%) and Central Cooperative Bank (CCB, BGN 1.67, +2.45%), once again led the gainers in this session, while the fluid power manufacturer M+S Hydraulic (MSH, BGN 11.20, +5.66%) big upside move was another support factor. Eurohold (E...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 May 2024
The major indexes closed with losses, reflecting the moderate activity of retails on Tuesday. SOFIX (863.60) fell 0.35%, while the broad indexes BGBX40 (171.72) and BGTR30 (851.69) took some advantage from Bianor Holding’s (BNR, BGN 5.30, +6.00%) and Billboard’s (BBRD, BGN 0.48, +15.38%) gains and decreased by 0.20% and 0.13% respectively. The volumes remained moderate as the turnover reached 69% of its 3-month average, mainly reflecting the Eurohold (EUBG, BGN 1.58, +0.64%) trading.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 21 May 2024
SOFIX (863.01, +0.82%) logged another 15-years record high supported by the financial sector on Monday. The broad indexes BGBX40 (171.92, +0.47%) and BGTR30 (860.42, +0.31%) underperformed under the weight of the losses of Eleven Capital (11C, BGN 18.40, -2.65%) and Monbat (MONB, BGN 3.10, -2.52%), while First Investment Bank (FIB, BGN 4.44, +1.83%) slipped to BGN 4.04 on the opening bell but at late hours new buying power changed the final outcome. The volumes slipped much lower than the 15-day...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 7 May - 10 May 2024
The local stock market gained steam last week and ended on a positive note, as investors kept the positive sentiment in some particular positions and supported the indexes. The local benchmark SOFIX added 3.0% to settle at 837.99, , reflecting the impressive performance of the index members First Investment Bank (FIB, BGN 3.88, +25.2%), Sirma Group Holding (SGH, BGN 0.83, +13.8%) and Chimimport (CHIM, BGN 0.76, +11.9%), that formed the top three in our list of selected companies. A total of 20 o...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 13 May 2024
The Bulgarian equity market ticked higher on Friday with major indexes rewriting the record highs they posted previous day. SOFIX (837.99) settled 0.61% higher as the positive sentiment seized more names on broad base, like Agria Group (AGH, BGN 20.40, +3.82%), Albena (ALB, BGN 26.80, +3.08%) and Neochim (NEOH, BGN 19.80, +7.03%). First Investment Bank (FIB, +6.01%) touched BGN 4.04 level but lately retreated to BGN 3.88 while remaining the daily mover within the benchmark. The volumes slipped s...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 May 2024
Equities had a solid showing on Thursday as all major indexes registered gains ranging from 0.16% to 0.54%. SOFIX (832.94, +0.46%) continued a three-day rise with new 15-years high, reflecting sensible buying power within the benchmark. The investors quickly erased 4.00% of Bulgarian Stock Exchange (BSE, BGN 14.40, -4.00%) market cap as the freshly uploaded GSM agenda was read as negative news and focused on financials, placing up First Investment Bank (FIB, BGN 3.66, +2.81%) at 2019 level and t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 April 2024
The Bulgarian equity market declined on the first day of the abrupt short week as all major indexes settled in range between negative 0.60% and negative 0.33%. The equites quickly moved lower facing the profit taking retail in First Investment Bank (FIB, BGN 2.90, -5.84%), Sirma Group (SGH, BGN 0.725, -2.68%) and Neochim (NEOH, BGN 18.80, -3.59%). The downside was short-lived as the participants were limited, which reflected in low volumes and only half of the 3-months average turnover.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 April 2024
The Bulgarian equity market finished strong on Wednesday concentrated in a narrow range of names, leaving the major indexes close to their 15-years highs. SOFIX (816.99) advanced by 1.48%, while the broad indexes BGTR30 (820.87) and BGBX40 (165.76) added 0.60% and 0.92%, respectively. First Investment Bank (BSE, BGN 2.90, +4.32%), M+S Hydraulic (MSH, BGN 12.10, +6.14%) and Eurohold (EUBG, BGN 1.35, +3.05%) settled higher while other 5 out 15 names remained untraded. The volumes, on the other han...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 April 2024
Quit opposite moves fixed SOFIX (807.47, +0.49%) positive on the very last trading session of March. M+S Hydraulic (MSH, BGN 11.10, +6.73%), Chimimport (CHIM, BGN 0.702, +2.93%), Bulgarian Stock Exchange (BSE, BGN 15.30, +2.00%) and Central Cooperative Bank (CCB, BGN 1.53, +2.00%) jumped on the ground of moderate daily volume. Insignificant speculative trades weighed on Holding Varna (HVAR, BGN 44.00, -2.22%), Advance Terrafund (ATER, BGN 3.34, -1.18%) and Elana Agrocredit (EAC, BGN 1.08, -0.92%...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 March 2024
The Bulgarian equity market had a mixed performance on Wednesday and the main indexes slightly slipped reflecting aggressive retail sellers and low volume trades in widened Bid/Ask spreads. SOFIX (809.41, -0.09%) and the broad indexes BGBX40 (165.31, -0.08%) and BGTR30 (810.08, -0.29%) logged declines, while BGREIT (189.88, +0.11%) closed with a gain. The afternoon trade witnessed some sale actions on Neochim (NEOH, BGN 20.50, -3.30%), M+S Hydraulic (MSH, BGN 10.80, -2.70%) and Sopharma (SFA, BG...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 4 March - 8 March 2024
The Bulgarian stock market finished the last trading week on a positive note, after continuing investors’ appetite in some particular positions supported indexes. The local benchmark SOFIX (803.00) was the top gainer with 1.2% rise, reflecting the strong performance of index members like Shelly Group (SLYG, BGN 61.20, +4.4%) and Sopharma (SFA, BGN 6.56, +3.1%). 11 out of 29 names in our list of selected companies finished on green territory last week and the same number of companies weighed on t...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 11 March 2024
The trading in widened Bid/Ask spreads settled the major indexes above the surface with moderate activity on buying side. SOFIX (803.00, +0.72%) recovered quickly, benefiting from M+S Hydraulic (MSH, BGN 11.10, +2.78%) and Neochim (NEOH, BGN 22.30, +5.69%) gains and registered new 15-year high at 803 level. The upcoming rebalancing of the benchmark triggered small interest in Agria Group (AGH, BGN 20.00, +0.50%) and Sirma Group (SGH, BGN 0.71, +2.90%) impacting positively the broad indexes, whil...
- Veselin Radoychev Please Change Surname
Banking System Overview 2023
ANOTHER RECORD YEAR WITH 64% YOY GROWTH OF NET INCOME, FUELLED BY THE RISE OF INTEREST RATES ON BUSINESS LOANS 2023 numbers show 64.4% YoY (+BGN 1.3bn) growth of net income to BGN 3.4bn, marking the best year in history. The 50.2% YoY (+BGN 1.6bn) growth of net interest income was the main reason for the improved financials. 12-m trailing ROE of the banking system continued improving for a twelfth consecutive quarter to 18.5% from 12.4% at end of 2022. The breakdown by banks reveals that...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 March 2024
Green Thursday raised SOFIX to 788.42 (+0.56%). Heavy Sopharma (SFA, BGN 6.16, +2.67%) and Eurohold (EUBG, BGN 1.30, +0.78%) supported the main index and offset the drop of Chimimport (CHIM, BGN 0.706, -1.94%), Sopharma Trading (SFT, BGN 5.60, -1.75%) and First Investment Bank (FIB, BGN 2.80, -1.41%). After several negative trading sessions, M+S Hydraulic (MSH, BGN 10.80, +4.86%) recovered on Thursday. Daily gainer Monbat (MONB, BGN 3.78, +5.00%) jumped without significant daily volume and big b...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 12 February - 16 February 2024
Last week, the Bulgarian stock market was modestly higher, as most of the investors may still be feeling anxious about the markets’ perspectives this year. The leading local index SOFIX added 0.6% to close at 785.36, the broad ones BGBX40 (162.08, +0.1%) and BGTR30 (804.89, +0.3%) performed similar, while the sector specific BGREIT (189.44, -0.2%) remained in red. The weekly top performers within our list of selected companies were Doverie United Holding (DUH, BGN 9.50 +6.3%) and the industrial ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 February 2024
Negative start of the week pushed all indexes down. SOFIX (780.02, -0.22%) slipped under the weight of the financial sector as Chimimport (CHIM, BGN 0.714, -1.92%), Central Cooperative Bank (CCB, BGN 1.60, -1.23%) and First Investment Bank (FIB, BGN 2.60, -1.52%) lost altitude on Tuesday. BSE (BSE, BGN 14.20, -1.73%) and Shelly (SLYG, BGN 58.00, -1.69%) also suffered from selling pressure and closed negative. Expected dividend distribution by the Moldavian bank lifted Doverie (DUH, BGN 9.28, +3....
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 05 February - 09 February 2024
The Bulgarian stock market ended the week mixed on Friday, as the local benchmark SOFIX added 0.1% to settle at 781.02, while the broad ones BGBX40 (161.99, +0.5%) and BGTR30 (802.18, -0.5%) ended in opposite directions. The weekly top performer within our list of selected companies was First Investment Bank (FIB, BGN 2.68, +11.7%), followed by Telematic Interactive (TIB, BGN 15.20, +10.1%) and Stara Planina Hold (SPH, BGN 10.80,+5.9%). On the red side the list started with Alcomet (ALCM, BGN 6...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 8 February 2024
The Bulgarian equity market registered volatile session with mixed results for the main indexes mostly caused by low-volume trades in widen Bid/Ask spreads. SOFIX (781.87) rebounded by 0.52% driven by the positive reaction of the investors from the latest news about First Investment bank (FIB, BGN 2.86, +23.28%) and interrupted 6-days down-trend, while the losses of Neochim (NEOH, BGN 21.80, -9.17%), Doverie United Holding (DUH, BGN 8.88, -3.06% ) and Sirma Group (SGH, BGN 0.715, -3.38%) placed ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 29 January - 02 February 2024
Few companies from the industrial sector registered significant increase last week and led weekly gainers. Industrial Holding (IHB, BGN 1.90, +12.4%), Industrial Capital Holding (HIKA, BGN 3.06, +4.8%) and M+S Hydraulic (MSH, BGN 11.20, +2.8%). The Banking sector weighted on the market and all local indexes closed on the negative territory. Rumors about First Investment Bank (FIB, BGN 2.40, -26.4%) pushed the bank’s shares down followed by Central Cooperative Bank (CCB, BGN 1.53, -5.0%). SOFIX...
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