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market highlights
Bulgarian stock market stepped higher at the first trading session of the week. SOFIX outperformed, driven by 68% of its components. Central Cooperative Bank (4CF: 3.86; +8.24%) was the best performer among the Banking sector. The bank was traded in moderate volumes as one deal for 20 000 shares improved the traded volumes. 4CF’s parent company Chimimport (6C4: 8.22; +1.27%) also gained but in small rate. The battery producer Monbat (5MB: 10.74; +1.80%) was traded in improved volumes as the new shares from the capital increase were registered for trading last week. The entire infrastructure sector gained, leaded by Moststroy (5MY: 21.50; +6.12%). The company managed to sustain levels above BGN 21.00 in slightly improved volumes.
However, despite the low liquidity the positive bias predominated on Monday and we saw slight institutional investors’ movement.
| SOFIX | 1022.32 | 1.37% | 13.77 |
| BG40 | 257.23 | 0.92% | 2.35 |
| BGTR30 | 668.90 | 0.97% | 6.45 |
| BGREIT | 88.14 | -0.68% | -0.60 |
| Number | Turnover | |
| Stocks | 348 512 | 2 165 448.55 |
| Bonds | 151 | 253 071.05 |
| Compensatory Notes | 191 081 | 74 763.55 |
| Primary market | - | - |
BG40 (LS)/ SOFIX (RS) (chart)
Stocks in focus
Neochim (chart)
Neochim (3NB: 82.55; +8.62%) made an impressive run during the session. The company opened at BGN 76.50 and hit BGN 82.55. The company was subject of speculators’ interest as well as of several market sell orders from institutional players. Recently, the company announced solidly improved 1H nonconsolidated financial results and the market provided support of the fertilizer producer. The net profit increased to BGN 39m as compared to BGN 8m for the same period last year. sales increased by 60% y-o-y. Trailing P/E of 6.5 is far below the market average as well as P/S of 0.85.
ALCOMET (chart)
Alcomet (6AM: 5.40; +8.00%) invested around BGN 78 k during the 2Q 2008, mainly in preparing for exploitation of the new equipment and for new grind section. The equipment was lead in exploitation in the first days of August. The realized investments from the beginning of the year amounted BGN 5.1 m. The company announced increased July’s sales – 27.6% as compared to June.
6AM was traded in thin volumes during the session but the price was boosted above BGN 5.40.
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http://reports.aiidatapro.com/BBB/Elana/11_08_2008_Bulgaria_Daily_Report.pdf
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Copyright: 2006 Elana Trading. All rights reserved.For further Information please contact Elana Trading, 49 Bulgaria blvd. , 1404 Sofia. Phone: +359 2 810 00 40, fax: +359 2 810 00 99, e-mail: research@elana.net, web site: http://www.elana.net
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11 08 2008 Bulgaria Daily Report.pdf, 55 Kb
