reports
- 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 - 11 March 2026
Trading activity weakened on Tuesday, with only a few index constituents registering volumes above the three-month average. SOFIX (1 268.58, -0.27%) edged lower, largely due to the decline in heavyweight Shelly Group (SLYG, EUR 57.80, -1.70%), which weighed on the benchmark. On the broader market, Speedy (SPDY, EUR 88.00, -3.30%) and Telelink Business Services (TBS, EUR 5.45, -6.84%) led the declines, pushing BGBX40 (215.58, -0.55%) lower for the session. Overall, the subdued trading activity me...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 4 March 2026
The Bulgarian equity market experienced heightened volatility during the first trading session of the shortened week surrounding Liberation Day of Bulgaria. Investor sentiment was mixed as market participants reacted to escalating geopolitical tensions related to Iran and the broader implications of the conflict. Aggressive selling pressure emerged in names such as Wiser Technology (WISR, EUR 2.40, -4.00%), Eurohold Bulgaria (EUBG, EUR 1.06, -3.64%), and Shelly Group (SLYG, EUR 57.80, -2.36%). A...
- 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 - 16 February 2026
Widened bid/ask spreads following the adoption of the euro, combined with a shift in focus among the local investment community toward the upcoming parliamentary elections (the eighth in the past five years), provided fertile ground for speculative trading and largely shaped the outcome of the final session of the week on the Bulgarian equity market. SOFIX (1 362.89, +0.62%) advanced on rebound-driven gains in Bulgarian Real Estate Fund (BREF, EUR 2.72, +2.26%), Chimimport (CHIM, EUR 0.505, +3.0...
- 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 (...
- 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 - 12 January 2026
Broad increase of index members lifted SOFIX (1 323.06, +4.42%) to an 18-year high. Sirma Group Holding (SGH, EUR 1.30, +17.12%) and Chimimport (CHIM, EUR 0.44, +15.79%) led daily gainers with higher daily turnover while Sopharma (SFA, EUR 1.785, +7.21%), Eurohold (EUBG, EUR 1.09, +7.92%) and Central Cooperative Bank (CCB, EUR 1.00, +5.26%) jumped without significant daily volume. Positive sentiment raised all other indexes and BGBX40 (224.48, +3.32%) and BGTR30 (1 064.12, +2.24%) closed green o...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 9 January 2026
The Bulgarian equity market extended its very strong start of the year, marking the fourth trading session under the newly adopted euro denomination. The major indexes continued to build gains, with BGREIT (229.89, -0.90%) being an exception, pressured by renewed weakness in the real estate sector. Strong price spikes in Sirma Group (SGH, EUR 1.11, +12.12%), Eurohold (EUBG, EUR 1.01, +5.21%), and Bulgarian Stock Exchange (BSE, EUR 7.30, +9.77%) supported the advance in SOFIX (1 267.03, +1.01%). ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 23 December 2025
Monday marked the final trading session of the year with BGN as the settlement currency. All major indexes closed in positive territory with solid gains, led by the broad BGBX40 (203.81, +0.98%). Sofia Commerce (SCOM, BGN 5.70, +11.76%), Speedy (SPDY, BGN 192.00, +6.67%), and Bravo Properties (BPF, BGN 1.03, +5.10%) topped the gainers’ list, although advances were achieved on low volumes and within widened bid/ask spreads. Investor focus remained on Sirma Group (SGH, BGN 1.89, +1.61%), which con...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 18 December 2025
The Bulgarian stock market closed in positive territory on Wednesday, as investor activity continued to improve toward the end of both the month and the year. SOFIX gained 0.34%, finishing the session at 1 138.81 points. The advance was driven primarily by increased interest in Elana Agrocredit (EAC, BGN 1.08, +2.86%), as well as continued strong trading in Sopharma (SFA, BGN 2.89, +1.40%), which has been among the most actively traded shares in recent weeks. Additional support for the index cam...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 8 December 2025
The Bulgarian equity market kept its recent upward trend, adding another meaningful portion to the weekly gains for all major indexes. SOFIX (1 108.63, +1.20%) recorded a new 18-year high, once again driven by Doverie (DUH, BGN 11.60, +9.43%) at the top of the leader board. The increasing investor interest ahead of the upcoming switch from BGN to EUR continued to attract additional participation, with Sopharma (SFA, BGN 2.78, +1.83%) and Chimimport (CHIM, BGN 0.71, +1.43%) standing out in this s...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 December 2025
The Bulgarian equity market faced a broader-based session at the start of December, resulting in mixed moves across the major indexes. BGBX40 (195.15, +0.21%) led the gainers as Doverie (DUH, BGN 9.52, +3.03%) and Eleven Capital (11C, BGN 16.50, +2.48%) supported the advance, while Neochim (NEOH, BGN 23.00, +15.00%) surged the most, boosted by an unusually high-volume trade executed at the session’s peak price. The daily turnover continued to exceed the 3-month average on a broader front — a tre...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 December 2025
The Bulgarian equities inched higher on Friday, recovering most of the previous session’s losses and closing the week with modest gains. A rebound in Advance Terrafund (ATER, BGN 2.67, +1.91%) and a steady bid in Shelly Group (SLYG, EUR 56.40, +1.44%) helped to lift all major indexes, with SOFIX (1 087.77, +0.14%) leading the advance. Trading volumes were broadly unchanged from the prior session, remaining subdued for the season. Chimimport (CHIM, BGN 0.70, 0.00%) and Eurohold (EUBG, BGN 1.90, +...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 28 November 2025
The Bulgarian equity market bent under selling pressure on Thursday, as weakness in several standalone names pulled the major indexes into negative territory. Wiser Technologies (WISR, BGN 4.52, -4.24%) and Advance Terrafund (ATER, BGN 2.62, -2.60%) led the declines, weighing broadly on sentiment. At the same time, Sopharma (SFA, BGN 2.72, +1.12%) and Sirma Group (SGH, BGN 1.72, +0.58%) attracted renewed interest after their latest financial results outperformed expectations. Both names were amo...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 26 November 2025
The Bulgarian equities extended their benchmark-led advance for a second consecutive session this week, sending SOFIX (1 086.47, +0.57%) to within a tick of its 18-year high. For the broader indexes — BGBX40 (194.37, +0.33%) and BGTR30 (945.97, +0.27%) — the upward momentum was more muted, as a notable share of constituents remained untraded or little changed. Bulgarian Stock Exchange (BSE, BGN 11.30, +4.63%) and First Investment Bank (FIB, BGN 5.08, +2.63%) regained buying interest and anchored...
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