reports
- 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 - 12 March 2026
The Bulgarian equity market recorded a positive session on Wednesday, with all major indices posting gains. Direction was largely driven by retail activity, as widened bid/ask spreads in recent choppy sessions allowed smaller orders to move prices more easily. Among the benchmark constituents, First Investment Bank (FIB, EUR 3.36, +3.38%), Shelly Group (SLYG, EUR 59.40, +2.77%), and Doverie United Holding (DUH, EUR 6.54, +2.19%) led the advance, pushing SOFIX (1 277.47, +0.70%) to the top of the...
- 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 - 10 February 2026
The Bulgarian equities posted a mixed performance on the first trading day of the week, with turnover coming in below the YtD average. The main indices reflected the subdued activity, recording marginal gains in a narrow range between 0.01% and 0.06%. BGREIT (232.60) was the only index to finish lower, pressured by weakness in real estate names such as Bulgarian Real Estate Fund (BREF, EUR 2.70, -1.46%) and Advance Terrafund (ATER, EUR 1.395, -1.06%). The modest positive bias in SOFIX (1 354.69,...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 30 January 2026
The positive sentiment on the Bulgarian Stock Exchange weakened on Thursday, pushing all major indexes into negative territory, with SOFIX (1 385.46, -1.40%) recording the steepest decline. Doverie (DUH, EUR 7.10, -8.51%) came under pronounced selling pressure, followed by Smart Organic (SO, EUR 17.20, -3.37%), Central Cooperative Bank (CCB, EUR 1.84, -3.16%), and Chimimport (CHIM, EUR 0.58, -3.33%), though trading volumes across these names remained subdued. A sharp advance in Sopharma Trading ...
- 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 - 22 December 2025
The final session of the last full trading week before year-end closed on a positive note for the Bulgarian equity market, reflecting the constructive sentiment observed in recent days. Chimimport (CHIM, BGN 0.745, +2.76%) and Sirma Group (SGH, BGN 1.86, +6.29%) contributed the most to SOFIX (1 148.45, +0.45%), which rewrote its 18-year high. Meanwhile, light-volume trades with Albena (ALB, BGN 27.60, +5.34%) and Gradus (GR6, BGN 1.09, +9.00%) drove the outperformance of the broader BGBX40 (201....
- 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...
Morning Bulletin - 17 December 2025
The Bulgarian equity market retreated within a narrow range, with weakness concentrated among recent gainers, pushing SOFIX (1 134.96, -0.19%) into negative territory. Wiser Technologies (WISR, BGN 4.80, -2.04%) and First Investment Bank (FIB, BGN 5.72, -1.72%) led the declines within the benchmark. In contrast, the broader indexes edged higher, with BGBX40 (200.94, +0.07%) and BGTR30 (979.99, +0.02%) benefiting from low-volume advances in Sofia Commerce (SCOM, BGN 5.00, +9.17%) and Hydraulic El...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 16 December 2025
The Bulgarian equity market retreated within a narrow range, with weakness concentrated among recent gainers, pushing SOFIX (1 134.96, -0.19%) into negative territory. Wiser Technologies (WISR, BGN 4.80, -2.04%) and First Investment Bank (FIB, BGN 5.72, -1.72%) led the declines within the benchmark. In contrast, the broader indexes edged higher, with BGBX40 (200.94, +0.07%) and BGTR30 (979.99, +0.02%) benefiting from low-volume advances in Sofia Commerce (SCOM, BGN 5.00, +9.17%) and Hydraulic El...
- 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
Weekly bulletin - 24 November 2025
Bulgarian equities ended the week firmly on the negative side, with most major indices posting declines as investors reassessed their positions amid heightened volatility across global markets. The local blue-chip index SOFIX slipped by 0.7% to close at 1 071.8 points, as the broader BGBX40 (192.56, -0.8%) and BGTR30 (941.65, -0.7%) mirrored the overall downward trend. Among the stocks we track, the top performers were Trace Group Hold (T57, BGN 5.20, +4.0%), the consistently strong Shelly Group...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 10 November - 14 November 2025
The Bulgarian stock market ended the previous week on a positive note, with the sole exception of the sector index BGREIT (226.49, -0.6%), which reflected the weaker performance of Advance Terrafund (ATER, BGN 2.75, -1.8%). The leading local benchmark SOFIX gained 0.8% to close at 1 079.33, supported by strong upward moves from heavyweights Eurohold Bulgaria (EUBG, BGN 1.94, +7.8%) and the high-growth Shelly Group (SLYG, EUR 54.00, +5.5%). Both stocks were also among the top gainers in FFBH’s li...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 12 November 2025
The Bulgarian equity market showed resilience on Tuesday, with the major indexes closing in positive territory, advancing between 0.21% and 0.63%. SOFIX (1 073.87, +0.63%) outperformed, supported by gains in Central Cooperative Bank (CCB, BGN 1.70, +2.41%) and Shelly Group (SLYG, EUR 53.00, +1.53%). Monbat (MONB, BGN 1.89, +3.85%) and Zaharni Zavodi (ZHBG, BGN 0.12, +4.35%) led on a broader base, though their influence was limited by light-volume trades. Weakness in Advance Terrafund (ATER, BGN ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 7 November 2025
The Bulgarian equity market experienced a volatile session, though the final outcome remained moderate compared to recent levels. Bulgarian Real Estate Fund (BREF, BGN 5.10, +2.41%) lifted SOFIX (1 070.88, +0.67%), which led the gains among the major indexes and drew additional buying interest in First Investment Bank (FIB, BGN 5.10, +1.59%) and Bulgarian Stock Exchange (BSE, BGN 10.90, +1.87%). Light-volume trades with Albena (ALB, BGN 26.20, -2.96%), Speedy (SPDY, BGN 185.00, -4.15%), and Petr...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 3 November 2025
SOFIX (1 067.06, -0.18%) closed slightly negative on the last trading day of the month as opposite move of index members offset each other. First Investment Bank (FIB, BGN 5.06, -3.44%), Smart Organic (SO, BGN 27.60, -1.43%), Sirma Group Holding (SGH, BGN 1.70, -1.16%) and Advance Terrafund (ATER, BGN 2.82, -1.05%) disappointed investors with the release of Q3 financial reports and selling pressure did not find adequate demand. Wiser (WISR, BGN 5.05, +1.81%) also reported loss in Q3 but negative...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 28 October 2025
The Bulgarian equity market lost momentum on Monday, sending the main indexes in mixed directions. SOFIX (1 069.46, -0.33%) slipped as weakness in the tech sector, led by Shelly Group (SLYG, EUR 52.80, -0.75%), Sirma Group (SGH, BGN 1.53, -0.65%), and Wiser Technologies (WISR, BGN 5.00, -0.99%), weighed on the benchmark. The broader BGTR30 (946.97, +0.21%) outperformed, supported by Synthetica (SYN, BGN 84.50, +11.18%), which surged after a block trade was registered at BGN 81.00. Tchaikapharma ...
- 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 - 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...
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