In the past week the prices of three of BSE’s indices – SOFIX, BG40 and BG TR30 – kept sliding down. Only BG REIT managed a slight increase of 0,40%.
The trade with the securities of the companies’ part of SOFIX determined the movements in the index itself. On Wednesday it registered the lowest position with 1879,64 at the close of business, or a decrease of 2,52% compared to the previous day. By the end of the week it regained some of its positions and ended at 1913,1 points that is a decrease of 1,72% compared to Friday the previous week.
BG40 lost some of its positions in the first three trading days on the exchange, sliding down to 570,48 points. On Friday the trade with the securities part of this index gained some impetus to reach 595,45 points but this was not sufficient to pass the level registered on Friday the previous week.
BG TR30 closed the business on the exchange as a loser as well, dropping with 2,40% to 1184,23 points.
The trade with the securities of Agricultural Land Opportunity Fund Mel Invest REIT-Sofia /ALOFMI/ and Intercapital Property Development REIT-Sofia /ICPD/ was the reason for the growth of the only index which struck a positive value of 0,40%.
Data for trading on the Bulgarian Stock Exchange-Sofia
period 15.10.2007 − 19.10.2007
| market segment | Volume | Value |
| Unofficial rights market Segment A | 5 596 694 | 48 142 706.13 |
| Unofficial rights market Segment B | 78 529 | 1 501 091.75 |
| Unofficial rights market | 253 730 | 271 176.92 |
| Unofficial bonds market | 518 | 944 456.08 |
| Official market Segment A | 283 745 | 3 694 973.54 |
| Official market Segment B | 1 113 780 | 24 199 216.39 |
| Official market Segment C | 0 | 0.00 |
| Official market corporate bonds | 1 | 1 023.23 |
| Compensatory market | 1 022 822 | 477 446.71 |
| ipo Other Securities | 320 000 | 517 973.50 |
| TOTAL | 8 669 819 | 79 750 064.25 |
| Previous week | Current week | |||
| 12.9.2007 | 19.10.2007 | Changes | % | |
| SOFIX | 1946.55 | 1913.10 | -33.45 | -1.72 |
| BG40 | 611.14 | 595.45 | -15.69 | -2.57 |
| BG TR30 | 1213.38 | 1184.23 | -29.15 | -2.40 |
| BG REIT | 102.81 | 103.22 | 0.41 | 0.40 |
Changes in the indices on the Bulgarian Stock exchange for the reviewed period
SOFIX 15-19.10.2007
| Date | Value | Changes (%) | |
| 19.10.2007 | 1913.1 | 0.87% | 1738964.36 |
| 18.10.2007 | 1896.57 | 0.90% | 5288048.26 |
| 17.10.2007 | 1879.64 | -2.52% | 7256579.67 |
| 16.10.2007 | 1928.27 | -1.24% | 5339115.53 |
| 15.10.2007 | 1952.4 | 0.30% | 4329032.45 |
BG40 15-19.10.2007
| Date | Value | Changes (%) | |
| 19.10.2007 | 595.45 | 2.34% | 2355670.69 |
| 18.10.2007 | 581.84 | 1.99% | 5435274.72 |
| 17.10.2007 | 570.48 | -3.18% | 6765252.9 |
| 16.10.2007 | 589.21 | -2.40% | 5582827.76 |
| 15.10.2007 | 603.71 | -1.22% | 4213064.89 |
BG TR30 15-19.10.2007
| Date | Value | Changes (%) |
| 19.10.2007 | 1184.23 | 1.10% |
| 18.10.2007 | 1171.34 | 0.47% |
| 17.10.2007 | 1165.84 | -2.58% |
| 16.10.2007 | 1196.75 | -1.19% |
| 15.10.2007 | 1211.12 | -0.19% |
BG REIT 15-19.10.2007
| Date | Value | Changes (%) |
| 19.10.2007 | 103.22 | 0.27% |
| 18.10.2007 | 102.94 | -0.38% |
| 17.10.2007 | 103.33 | 0.08% |
| 16.10.2007 | 103.25 | -0.98% |
| 15.10.2007 | 104.27 | 1.42% |
SOFIX (chart)
BG40 (chart)
BG TR30 (chart)
BG REIT (chart)
Winners (table)
Losers (table)
From among the companies included in the indices, the leader was CB Bulgarian American credit Bank AD-Sofia /BACB/ registering the insignificant increase of 1,02% for the week with its shares exchanged for more than BGN 80 in certain occasions. The other winners were Oil & Gas Exploration & Production AD-Sofia /GAZ/ and CB Central Cooperative Bank AD-Sofia /CCB/ gaining 0,78% and 0,34% respectively.
This week’s losers at the close of business on Friday were the shares of TK-Hold PLC-Sofia /TCH/ -10,24%, Severcoop Gamza Holding AD-Sofia /GAMZA/ - 9,35%, Fazerles AD-Silistra/ FZLES/ - 7,12% and Eurohold Bulgaria AD-Sofia /EUBG/ - 5,94%, which registered the greatest price drop from among all companies part of the indices.
The trade with the securities of Synergon Holding AD-Sofia /PETHL/ was influenced by the news regarding the sale of the holding’s shares in Elektrodi AD - Ihtiman. A party to this transaction is Exelvia International Holding, a subsidiary of ESAB – one of the major global producers of welding equipment. During the week the shares of the holding were exchanged at prices exceeding BGN 16.
October 29 is the starting date for trading with the rights for the capital increase of Industrial Holding Bulgaria PLC-Sofia /IHLBL/ which will last until November 9. Shareholders who have purchased shares no later than September 10 can purchase rights. The issue value of these securities is BGN 2,4. Each share entitles the holder to purchase one right.
The management of Holding Roads-Sofia /HDPAT/ and Moststroy AD-Sofia /MOSTS/ is planning to call General Meetings of the shareholders of these companies in order to vote the share split of the two companies. One old share of the capital of Holding Roads-Sofia /HDPAT/ will be equal to 24 new shares and one old share of Moststroy AD-Sofia /MOSTS/ will be equal to 9 new ones. The contracts concluded by the holding amount to BGN 378 million and those concluded by Moststroy amount to BGN 118,25 million. After the news about the forthcoming split, the shares of the companies registered record-breaking values. Investors exchanged shares of the holding for BGN 48 824,1 on Thursday and by the close of business on Friday they reached BGN 39 000. The trade with the shares of Moststroy AD-Sofia /MOSTS/ reached record-breaking amounts as well, with prices exceeding BGN 3600.
The Financial Supervision Commission approved the prospectus for the secondary public offering of the shares of Hydroizomat AD, Sofia. The capital of the company is divided into 1 299 122 ordinary shares, each with par value of BGN 1. The initial exchange price is BGN 5.
Holding Nov Vek AD-Sofia /BHNVEK/ is planning to increase its capital with up to 1,59 million shares by issuing 909 090 shares, each with par value of BGN 1 and issue value of BGN 22. Holding Varna A AD-Varna /HVAR/ is also planning to increase its capital by issuing 1,1 million shares with par value of BGN 1 and issue value of BGN 45. The ratio between the rights and new shares issued is 10/11. Bulgarska Roza-Sevtopolis AD-Kazanlak /SEVTO/ is planning to double its capital to BGN 12 065 424.
Mutual Funds Performance – up to date 19.10.2007 (table)
news Capman Financial Group
Capman Max with record breaking investmetnts in September
Bulgarian Stock Exchange’s prospering in the past several years has enhanced the development of collective investment schemes, turning them into a separate industry. And it is an industry, which contributes greatly to the overall development of capital market and capital culture in the country.
The total net sales (the difference between newly issued shares and redemptions) of the 51 Bulgarian mutual funds amounted to 79,440,126 leva only in September. The high-risk profiles are the most popular type of schemes, Profit.bg found out.
86.96%, or 68,995,646 leva of the above-mentioned figure, was attracted by collective investment schemes investing in corporate shares of Bulgarian and foreign companies. Balanced schemes attracted 10,400,359 leva, and low risk funds – just 44,121 leva.
We can also see that of the 22 high-risk profile funds, in just 1 case redemptions exceed the newly issued.
Among high-risk profiled companies, net sales of three top 10 mln leva. These are Capman Max (15,578,881 leva), followed by DSK Rastej (13,361,371 leva) and Raiffeissen Bulgaria Shares Fund (10,305,991 leva). Status Finance has a negative result with newly issued shares/redemptions proportion of 79,200 leva/382,744 leva.
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Copyright: 2007 Capman AD. All rights reserved. For further Information please contact Capman, 8 Tri Ushi Str., Fl. 6, 1301 Sofia, Bulgaria
Tel. ++359 2 810 60, fax: +359 2 810 60 33, e-mail: mail@capmanbg.com, web site: http://www.capmanbg.com
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Capman Weekly 15-19.10.2007.pdf, 209 Kb
