This week on the exchange was characterized by the positive mood of investors. All four basic exchange indices were positive at the close of business with some of them achieving record-breaking values. The greatest growth was once again registered by the wide BG40 index that gained 50.93 points which is an 11.45% growth to 495.84 points at the close of business on Friday. 16 of the companies included in this index gained more than 10% of the price of their shares for the current week.
SOFIX gained 6.20% to reach1781.25 points at the close of business. The new indices on the exchange, BGTR30 and BGREIT, closed at 1115.52 points and 101.08 points respectively which is an increase of 6.69% and 1.02% respectively.
This week’s losers included only acouple of the companies included in the indices of the BSE but with insufficient changes. The securities of Sparky Eltos AD /ELTOS/ lost 2.77% of their amount and the remaining companies lost less than 1% for the week.
Data for trading on the Bulgarian Stock Exchange-Sofia
| market segment | Volume | Value |
| Unofficial rights market Segment A | 13 189 953 | 63 508 772.66 |
| Unofficial rights market Segment B | 97 607 | 1 552 399.72 |
| Unofficial rights market | 186 179 341 | 848 572.45 |
| Unofficial bonds market | 812 | 1 044 821.37 |
| Official market Segment A | 380 277 | 5 138 269.69 |
| Official market Segment B | 1 165 252 | 20 192 453.69 |
| Official market Segment C | 0 | 0.00 |
| Official market corporate bonds | 5 | 5 086.13 |
| Compensatory market | 473 170 | 209 075.61 |
| ipo Other Securities | 0 | 0.00 |
| TOTAL | 201 486 417 | 92 499 451.32 |
| Previous week | Current week | Changes | % | |
| 15.9.2007 | 21.9.2007 | |||
| SOFIX | 1677.2 | 1781.25 | 58.06 | 3.59 |
| BG40 | 444.91 | 495.84 | 15.53 | 3.62 |
| BG TR30 | 1045.56 | 1115.52 | 31.19 | 3.07 |
| BG REIT | 100.06 | 101.08 | 0.18 | 0.18 |
SOFIX 17-21.09.2007
| Date | Value | Changes | |
| 21.9.2007 | 1 781.25 | 2.07% | 6 637 966.68 |
| 20.9.2007 | 1 745.13 | 1.13% | 12 940 216.16 |
| 19.9.2007 | 1 725.65 | 1.44% | 5 674 294.63 |
| 18.9.2007 | 1 701.15 | 0.82% | 4 953 889.2 |
| 17.9.2007 | 1 687.25 | 0.60% | 2 474 414.44 |
BG40 17-21.09.2007
| Date | Value | Changes | |
| 21.9.2007 | 495.84 | 1.33% | 7 918 232.02 |
| 20.9.2007 | 489.34 | 0.52% | 9 434 378.33 |
| 19.9.2007 | 486.81 | 2.57% | 7 107 305.67 |
| 18.9.2007 | 474.59 | 2.55% | 5 976 511.11 |
| 17.9.2007 | 462.78 | 4.02% | 4 729 621.3 |
BG TR30 17-21.09.2007
| Date | Value | Changes |
| 21.9.2007 | 1115.52 | 1.50% |
| 20.9.2007 | 1099 | 1.13% |
| 19.9.2007 | 1086.77 | 1.53% |
| 18.9.2007 | 1070.38 | 1.47% |
| 17.9.2007 | 1054.83 | 0.89% |
BG REIT 17-21.09.2007
| Date | Value | Changes |
| 21.9.2007 | 101.08 | 0.54% |
| 20.9.2007 | 100.54 | 1.74% |
| 19.9.2007 | 98.82 | -0.50% |
| 18.9.2007 | 99.32 | -0.85% |
| 17.9.2007 | 100.17 | 0.11% |
SOFIX (chart)
BG40 (chart)
BG TR30 (chart)
BG REIT (chart)
WinnersLosers (table)
Investor optimism was a predominant feature on the floor of the BSE this week. The free cash resources and the delay in the expected IPOs had a positive effect on the trade with a great number of units.
The greatest increase was registered by the securities of Severcoop Gamza Holding AD-Sofia /GAMZA/ which added 39.83% to their amount. On Monday the average trading price of these securities was BGN 3.63, reaching the average price of BGN 5.21 on Thursday. A total of 32 365 lots were traded during the week where the capitalization equaled BGN 148 thousand.
The other company registering a considerable increase was Zaharni Zavodi AD-Gorna Oryahovitsa /ZAHZA/. The securities of this company were traded at over BGN 262, which means a weekly increase of 35.10%.
The securities of Alcomet AD-Shumen /ALUM/ and Industrial Holding Bulgaria PLC-Sofia /IHLBL/ were among the winners as well with increase of 19.65% and 17.44% respectively.
From among the companies included in BGREIT the greatest increase in the price of shares was registered by Intercapital Property Development REIT-Sofia /ICPD/ 6.67%, followed by Agricultural Land Opportunity Fund Mel Invest REIT-Sofia / ALOFMI/ 3.23% and Aktiv Properties REIT-Plovdiv /AKTIV/ 2.80%.
The most liquid position during the week was once more that of Chimimport AD-Sofia /CHIM/. The shares of the company reached record-breaking values of BGN 17.15 with capitalization for the week of BGN 8 580 thousand. September 21 was the last date for transactions with the rights issued by the company entitling their holders to subscribe for the capital increase of the company. There were transactions concluded at BGN 0.96 per right and on Friday the rights trade was closed at BGN 0.87 per right. This week the Chimimport AD-Sofia /CHIM/ group was joined by two more companies operating in the field of grain crops. The company acquired 75.59 % of the capital of Bek International AD and 99.64 % of the capital of Zarneni Hrani – Valchi Dol AD.
Compared to the winners, the percentage of losers on the exchange this week was small. The securities of Sparky Eltos AD-Lovech /ELTOS/ registered the greatest decrease - 2,77% where the decrease registered by the other losers was below 1%.
This was the first trading week of the shares of Devin AD /DEVIN/ which had a successful initial public offering this summer. The first trading day of these shares saw values between BGN 7.25 and BGN 8 with ipo price of BGN 6.10.
The management of Darvoobrabotvane-VT is planning that the company goes public. At the General Meeting on shareholders on October 30 the shareholders will vote on the company going public by an ipo for 1.3 million new shares.
September 24 is the deadlines for purchasing rights of Universal Properties REIT that entitle the holder to subscribe nine new shares of the company at the issue value of BGN 1. The capital is expected to increase from BGN 650 thousand to BGN 6,5 million.
The management of Sila Holding AD is also planning to increase the company’s capital to BGN 2 090 378 by issuing 1 999 492 new shares, each with par and issue value of BGN 1. The management of Maritsatex AD is also planning an increase from BGN 468 921 to BGN 937 842 by a new issue of 468 921 shares with par value of BGN 1 and issue value of BGN 5.
Mutual Funds Performance – up to date 21.09.2007 (table)
news Capman Financial Group
Capman Max Return On Investment Tops 100% This Year
Capman Max high-yield fund reached 100.84% return on investments at the end of last week. By comparison, last year, the fund brought 100.10% return on investment.
“The management is extremely satisfiedwith the good results we bring to our investors. We are determined to maintain this excellent performance,” - Capman executive director Nikolay Yalamov said.
Capman Max mutual fund started operation on 5 January 2006 with a face value of 10 leva. Currently a stake can be acquired at 40.4702 leva. The fund has attracted some 65 mln leva (33.233 mln euros) so far.
Capman Max is the second collective investment scheme in the family of Capman financial group. At the end of last week 73.17% of assets was invested in shares, and 2.89% in stakes in other mutual funds. 23.94% of assets is in cash or cash equivalents.
In September 2004 Capmanlaunched the balanced fund Capman Capital. Its assets stand at 16.96 mln leva (8.671 mln euros). At the beginning of the year the fund’s return was estimated at +61.63%. 45.45% of assets is invested in shares, 14.18% in bonds and 10.42% in mutual funds. 24.19% of assets is in cash or cash equivalents, and 5.77% is invested in government securities.
Capman Mutual Funds have attracted more than 2,200 investors to date.
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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 17-21.09.2007.pdf, 187 Kb
