Previous week trading on BSE has passed again without any significant interest shown by the investors, with low trading volumes and minimum changes of indices’ levels. All four exchange indices ended on negative territory at levels slight below –1 %.
Principal SOFIX index reported a drop by 0,60% up to a level of 1413,24 points, by losing some 8,58 points of its value. The wide BG40 index closed at level of 405,38 points, representing a decrease by 0,15% at the close of business on Friday.
The equally weighted BG TR30 index ended its Friday close of business at 923,47 points, which is a drop, too, but as minimum as 0,41%.
The real estate BG REIT index lost nearly 1% of its value and reported a level of 101,43 points.
Data about the trade on the Bulgarian Stock exchange for the period 18.02.- 22.02.2008
| market segment | Volume | Value (BGN) |
| Unofficial share market Segment A | 3 357 963 | 15 602 547.18 |
| Unofficial share market Segment B | 25 855 | 186 071.38 |
| Unofficial market, Other Securities | 132 110 | 122 440.60 |
| Unofficial Bonds market | 2 325 | 4 045 351.73 |
| Official share market Segment A | 140 089 | 1 303 823.02 |
| Official share market Segment B | 3 756 716 | 19 579 972.49 |
| Official Corporate Bonds market | 583 | 244 854.87 |
| Compensatory market | 1 683 161 | 802 047.94 |
| Other | 15 000 | 150.00 |
| TOTAL | 9 113 802 | 41 887 259.21 |
| Previous week | Current week | |||
| 15.2.2008 | 22.2.2008 | Changes | % | |
| SOFIX | 1421.82 | 1413.24 | -8.58 | -0.60 |
| BG40 | 405.97 | 405.38 | -0.59 | -0.15 |
| BG TR30 | 927.28 | 923.47 | -3.81 | -0.41 |
| BG REIT | 102.43 | 101.43 | -1.00 | -0.98 |
Changes in the indices on the Bulgarian Stock exchange for the reviewed period
SOFIX 18-22.02.2008
| Date | Value | Changes | Turnover |
| 22.2.2008 | 1413.24 | 0.00% | 398024.64 |
| 21.2.2008 | 1413.18 | -0.57% | 1144219.12 |
| 20.2.2008 | 1421.29 | 0.71% | 1983552.1 |
| 19.2.2008 | 1411.22 | 0.24% | 1218361.92 |
| 18.2.2008 | 1407.78 | -0.99% | 2324433.81 |
BG40 18-22.02.2008
| Date | Value | Changes | Turnover |
| 22.2.2008 | 405.38 | -0.70% | 934439.38 |
| 21.2.2008 | 408.24 | -0.41% | 1296231.16 |
| 20.2.2008 | 409.92 | 0.80% | 1672277.74 |
| 19.2.2008 | 406.68 | 0.90% | 1116678.33 |
| 18.2.2008 | 403.06 | -0.72% | 703336.23 |
BG TR30 18-22.02.2008
| Date | Value | Changes |
| 22.2.2008 | 923.47 | 0.07% |
| 21.2.2008 | 922.78 | -0.42% |
| 20.2.2008 | 926.68 | 0.46% |
| 19.2.2008 | 922.42 | 0.39% |
| 18.2.2008 | 918.84 | -0.91% |
BG REIT 18-22.02.2008
| Date | Value | Changes |
| 22.2.2008 | 101.43 | -0.15% |
| 21.2.2008 | 101.58 | 0.42% |
| 20.2.2008 | 101.16 | -0.74% |
| 19.2.2008 | 101.91 | -0.17% |
| 18.2.2008 | 102.08 | -0.34% |
SOFIX (chart)
BG40 (chart)
BG TR30 (chart)
BG REIT (chart)
Winners (table)
Losers (table)
Despite of tedious market mood and lukewarmattitude of investors in general, some companies on the exchange floor managed to report significant changes. By its growth of 11,76% as a most profitable player is the company Chugunoleene AD – Ihtiman /CHUG/. Some 1552 shares were exchanged at 39 transactions and total turnover amounted to BGN 42 347. Among the winners are also Bulgarian Holding company AD - Sofia / BHC/ demonstrating increase by 8,45% and Active Properties REIT – Plovdiv /AKTIV/ + 4,21%
From the companies included in SOFIX and BG TR30 indices the leading positions were occupied by the shares of Toplivo AD - Sofia /TOPL/, which reported a growth by 3,33% at closed 75 transactions and achieved weekly turnover in amount of BGN 319 152. They are followed closely by Neochim AD – Dimitrovgrad / NEOH/, Petrol AD – Sofia /PET/, as well as by the securities of Holding Varna A ÀD - Varna /HVAR/, which, at the close of business on Friday, increased its value by 1,58%, 1,29% and 1,50%, respectively. On negative territory were traded the shares of CB Central Cooperative Bank AD – Sofia /CCB/ and Insurance company Euro Ins-Sofia / EURINS/, reporting a drop by 1-2%. Some decrease is observed in shares value of EMKA AD - Sevlievo / EMKA/ and Albena Invest Holding AD – Albena Resort Complex /ALBHL/, which lost ca. 5% of its price, as compared with the one achieved in last week. A drop by 4,08% is reported also by BenchMark Fund Property REIT - Sofia / BMREIT/ and Zaharni Zavodi AD - Gorna Oryahovitsa /ZAHZA/ - 3,83%.
During the week reviewed it was announced the interest declared by the international financial institution Allied Irish Banks for purchase of 50% from the capital of “Bulgarian-American credit Bank”. The major shareholder, US investment fund „BAIF” offers its shareholding against the amount of EUR 216 million or BGN 67 per share. So, despite the financial sector crisis on international markets such declared interest may serve as evidence that the Bulgarian banks are attractive investment for international financial institutions.
In course of the previous week ended the secondary public offering of the shares of Sparky AD - Ruse. From total number of 300 000 offered shares of the company capital were purchased only 25 316 shares, representing just 8.44%. As reasons for such low interest may be considered uncertainty among investors as regards of new participants and unfavorable situation of stock exchange markets globally and in Bulgaria.
On Wednesday started the trading in shares of Billboard AD. Investors who have purchased shares from the initial public offering reported yields of some 20% after initial trading days. The issue value of this ipo was in amount of BGN 7,30, but only for the first days the transactions were closed at prices about BGN 8,60. The total number of shares traded was ca. 300 000.
The company Bulgarian River Shipping AD - Ruse submitted its consolidated financial reports for previous 2007 year.The company reported net consolidated profit amounting to BGN 4,032 million, which represents BGN 0,14 per share, net consolidated income from sales increased to the amount of BGN 45 million, and costs per economic elements increased up to the amount of BGN 39,7 million.
The Financial Supervision Commission approved a prospectus for public offering of share issue by the company Darvoobrabotvane – VT AD – Veliko Tarnovo. The share issue is in amount of BGN 1 104 856, allocated in same number of ordinary shares having par value of BGN 1.00 each.
Collective investment schemes – yield as at 22.02.2008 (table)
Capman Financial Group – Corporate news
Net assets of the Bulgarian mutual funds show a monthly drop by 11%
Net assets of the Bulgarian mutual funds decreased by BGN 95,86 million up to BGN 739,7 million as of February 15th 2008 as compared with the amount of BGN 835,56 million as of January 15th 2008, which represents decrease in amount of 11,47%. This trend is shown in a recently made study by Investor.bg.
Total 62 mutual funds and open-type investment companies reviewed are holding in average net assets in amount of BGN 11,91 million, and 20 ôîíäà manage assets in amount above such average value.
The ranking list in terms of net assets for mutual funds in the reviewed period is topped by Mutual Fund DSK Growth with amount of BGN 59,2 million. The leader is followed by Mutual Fund Capman Max with amount of BGN 53,85 million and by Investment company Advance Invest with amount of BGN 47,53 million. Six funds are managing assets in amount exceeding BGN 41 million, another six funds are holding assets in amount range between BGN 20-34 million. assets of another 12 funds fall within the range of BGN 10-20 million, 14 funds have assets in amount within the range of BGN 3-10 million, and remaining 24 funds manage assets in amount up to BGN 3 million.
The leader in terms of assets managed is DSK Asset ManagementAD with managed amount of BGN 107,09 million, followed by Elana Fund management AD, having amount of BGN 104,38 million of assets managed. The third place in terms of assets managed is occupied by Raiffeisen Asset management (Bulgaria) EAD with managed amount of BGN 99,23 million. Then follow closely Carol Capital management EAD and Capman Asset management AD with managed assets in amount of BGN 85,01 million and BGN 69,15 million, respectively. Top 5 of fund management companies per assets managed in ranking list as of January 15th look very much the same with the only difference, that the second and third companies in the list have changed its positions.
Source: Investor.BG
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Capman Weekly 18.02-22.02.2008.pdf, 252 Kb
