reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 26 September 2025
The Bulgarian equities saw little movement on Thursday, with weak activity keeping major indexes flat to slightly lower. SOFIX (1 067.02, -0.05%) edged down as Smart Organic (SO, BGN 29.60, -3.90%) came under modest selling pressure. The broader BGBX40 (193.86, -0.03%) and BGTR30 (948.79, -0.09%) also slipped, weighed down by narrowly traded names across sectors. Turnover remained muted, well below recent sessions and the 15-day average, underscoring the lack of conviction among market participa...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 25 September 2025
The Bulgarian equities ended Wednesday’s session broadly flat as the positive sentiment faded. SOFIX (1 067.57, -0.04%) slipped with losses in Bulgarian Stock Exchange (BSE, BGN 9.70, -1.52%) and Eurohold (EUBG, BGN 1.81, -1.09%) offsetting modest gains elsewhere. BGBX40 (193.91, +0.08%) managed to edge higher, propped up by a standout 10.00% jump in Gradus (GR6, BGN 1.10). Trading was subdued, with volumes well below recent averages and most stocks showing narrow moves. Only Sopharma (SFA, 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
Morning Bulletin - 23 September 2025
Bulgarian equities closed lower on Friday after a volatile session marked by sharp price swings. SOFIX (1 065.52, -0.30%) was pressured by heavyweight Shelly Group (SLYG, EUR 52.00, -3.35%), which posted wide intraday moves before settling with a steep loss. Gains in Telematic Interactive (TIB, BGN 22.60, +2.73%) and Sopharma (SFA, BGN 2.70, +2.27%) helped cushion the decline. The broader indexes also retreated, with the BGBX40 (192.86, -0.32%) and BGTR30 (949.21, -0.48%) additionally dragged do...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 18 September 2025
Most Bulgarian stocks fell on Wednesday with all major indexes ending lower amid weak trading activity. Losses ranged from 0.24% to 0.53%, with SOFIX (1 065.42, -0.53%) retreating to levels last seen three weeks ago as selling hit large caps. Wiser Technologies (WISR, BGN 5.60, -1.75%), Sopharma (SFA, BGN 2.62, -1.13%) and Chimimport (CHIM, BGN 0.715, -1.38%) were among the notable decliners within the benchmark. Agria Group (AGH, BGN 18.40, +2.22%) was one of the few gainers, helping to soften ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 19 September 2025
The Bulgarian equity market broke an eight-day losing streak on Wednesday, though gains were modest and driven by light volume trades. All major indexes advanced between 0.13% and 0.42%. SOFIX (1 068.76, +0.31%) was lifted by Sopharma (SFA, BGN 2.64, +0.76%), signalling a potential fresh uptrend, while wider spreads in smaller names such as Synergon Holding (SNRG, BGN 0.99, +7.03%), Sopharma Buildings (SFB, BGN 15.50, +2.65%), and Bravo Properties Fund (BPF, BGN 1.00, +2.04%) allowed retail flow...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 17 September 2025
The Bulgarian stock market ended Tuesday on a flat note, marked by weak turnover and subdued investor activity. The benchmark SOFIX slipped slightly to 1 071.13 points (-0.06%), while the broader BGBX40 (193.89, -0.24%) and BGTR30 (955.48, -0.08%) posted similar minor declines. Within SOFIX, the top gainers were Wiser (WISR, BGN 5.70, +2.70%) and Advance Terrafund (ATER, BGN 2.93, +2.45%). On the downside, Central Cooperative Bank (CCB, BGN 1.68) registered the steepest drop, falling 2.33% in ve...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 16 September 2025
The Bulgarian equities opened the week under pressure, with all major indexes finishing lower on broad-based selling. SOFIX (1 071.73, -0.55%) was dragged down by Advance Terrafund (ATER, BGN 2.86, -3.05%), while Speedy (SPDY, BGN 190.00, -3.06%) added weight on BGBX40 (194.36, -0.47%) and BGTR30 (956.29, -0.19%). Volumes remained moderate for the season, though block trades once again lifted the daily statistics, including activity in Eurohold (EUBG, BGN 1.82, -1.09%), Balkan and Sea Properties...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 9 September - 12 September 2025
Bulgarian equity markets ended the week on a cautious note, with most major indexes posting modest declines as participants reassessed positioning following the end of the summer season. The local benchmark SOFIX declined by 0.7%, closing at 1 077.62, while the broader BGBX40 (195.28, -0.2%) and BGTR30 (958.07, +0.1%) remained flattish. Industrial M+S Hydraulic (MSH, BGN 10.10, +5.2%) and SOFIX member Telematic Interactive Bulgaria (TIB, BGN 22.20, +2.8%) were on the top of the gainers in our li...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 15 September 2025
The Bulgarian equity market ended the week slightly lower on Friday, with the main indexes posting modest declines between 0.13% and 0.20%. BGREIT (230.31, +0.04%) was the lone gainer, edging higher reflecting the positive price actions of Sopharma Buildings (SFB, BGN 15.80, +1.94%). Among the benchmark constituents, Sirma Group (SGH, BGN 1.38, -2.13%), Bulgarian Stock Exchange (BSE, BGN 9.70, -1.52%), and Sopharma (SFA, BGN 2.68, -0.74%) led the laggards amid moderate activity. Turnover picked ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 12 September 2025
Bulgarian equities saw little change on Thursday, with the main indexes finishing near previous levels. SOFIX (1 079.77, -0.07%) slipped modestly as heavyweights Sopharma (SFA, BGN 2.70, -0.74%) and Shelly Group (SLYG, EUR 54.40, -1.45%) extended their pullback from recent record highs. In contrast, the BGBX40 (195.54, +0.08%) and BGTR30 (959.87, +0.17%) outperformed, supported by gains in Chimimport (CHIM, BGN 0.725, +2.11%) and Central Cooperative Bank (CCB, BGN 1.72, +2.38%). Overall activity...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 11 September 2025
The Bulgarian equity market extended its midterm downtrend on Wednesday, with all major indexes closing lower amid subdued activity on the bid side. SOFIX (1 080.54, -0.04%) edged down slightly, while BGBX40 (195.39, -0.36%) and BGTR30 (958.25, -0.16%) underperformed, pressured by sell-offs in Sofia Commerz (SCOM, BGN 7.85, -4.27%), Korado Bulgaria (KBG, BGN 4.14, -4.17%), and Speedy (SPDY, BGN 193.00, -3.50%). Turnover slipped below recent levels, with trading concentrated in benchmark constitu...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 September 2025
The shorter working week opened with mixed interest, though light-volume moves shaped the broader market. SOFIX (1 081.02) declined 0.43%, weighed down by continued weakness in Sopharma (SFA, BGN 2.72, -0.73%), Shelly (SLYG, EUR 55.40, -1.07%), and Bulgarian Real Estate Fund (BREF, BGN 5.20, -0.95%). On the other hand, strong follow-through in M+S Hydraulic (MSH, BGN 10.10, +5.21%) and Hydraulic Elements & Systems (HES, BGN 5.15, +5.10%) kept the BGBX40 (196.10, +0.19%) and BGTR30 (959.79, +0.29...
- 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 - 9 September 2025
Early week strength in Bulgarian large caps faded on Friday, leaving the equity market lower ahead of the Unification Day holiday. SOFIX (1 085.72, -0.17%) slipped modestly, dragged by declines in Sopharma (SFA, BGN 2.74, -0.72%), Shelly Group (SLYG, EUR 56.00, -1.06%), and Sirma Group (SGH, BGN 1.39, -1.42%). The broader indexes underperformed, with the BGBX40 (195.73, -0.32%) and BGTR30 (956.99, -0.24%) pressured by weakness in Agria Group (AGH, BGN 17.70, -2.21%) and M+S Hydraulic (MSH, BGN 9...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 5 September 2025
SOFIX (1 087.55, +0.20%) notched its sixth consecutive gain on Thursday, setting another 18-year high, supported by strength in Sirma Group (SGH, BGN 1.41, +5.22%) and the ongoing midterm uptrend in Sopharma (SFA, BGN 2.76, +1.10%) following its latest financial results. The broader indexes underperformed, with BGBX40 (196.36, +0.08%) and BGTR30 (959.33, +0.01%) held back by declines in Agria Group (AGH, BGN 18.10, -2.16%) and Eleven Capital (11C, BGN 15.70, -1.26%), which offset broader positiv...
- 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 - 3 September 2025
The heavy members Shelly Group (SLYG, EUR 56.60, +1.80%) and Sopharma (SFA, BGN 2.69, +0.75%) fully offset the crash of Doverie United Holding (DUH, BGN 9.20, -2.13%) and Bulgarian Stock Exchange (BSE, BGN 9.75, -1.52%) on Tuesday. SOFIX (1 083.45, +0.16%) closed positive on the ground of moderate daily turnover. BGREIT (230.95, +0.10%) finished the day in the green zone as Sopharma Buildings (SFB, BGN 16.00, +5.26%) erased losses of Bulgarian Real Estate Funds (BREF, BGN 5.25, -0.94%).
- 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
Weekly bulletin - 25 August - 29 August 2025
The local stock market gained momentum last week, ending on a positive note as the benchmark SOFIX rose by 2.3% to 1 081.60 — marking the strongest performance among the indices, which also posted gains, ranging from 0.7% to 1.3%. Among the top performers in our monitored list were SOFIX members Bulgarian Stock Exchange (BSE, BGN 10.00, +8.7%) and Sopharma (SFA, BGN 2.65, +7.7%). On the downside, Korado Bulgaria (KBG, BGN 4.32, -4.8%) and battery manufacturer Monbat (MONB, BGN 2.10, -3.7%) led t...
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