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market highlights
Bulgarian market closed in the green for consecutive session but in significantly improved turnover. The large deals showed institutional investors’ presence. The positive bias predominated and supported the most of positions. The liquid companies were most attractive. Chimimport (6C4: 8.36; +1.67%) managed to sustain levels above BGN 8.00 in improved volumes. 104 832 shares changed hands as two large package transactions at the end of the day supported the 6C4’s turnover. Monbat (5MB: 11.00; +2.42%) also was subject of higher interest. Toplivo (3TV: 17.00; +11.32%) and Neochim (3NB: 86.00; +4.18%) outperformed the market. The fertilizer producer continued the rally as the company reached the intraday high of BGN 87.7 and added another 4% on daily basis. 3TV opened at BGN 15.00 but rapidly soared driven by a serial of market buy orders. First Investment Bank (5F4: 5.92; +2.07%) was the best performer among banking sector.
It is probable that the summer lethargy will continue to grab the market in short term but the Tuesday’s impulse is a good sign. Moreover, the increased overall activity is showing institutional money entering the market. If any rally lies ahead than Tuesday session is the perfect start for it.
| SOFIX | 1031.46 | 0.89% | 9.14 |
| BG40 | 258.97 | 0.68% | 1.74 |
| BGTR30 | 677.73 | 1.32% | 8.83 |
| BGREIT | 88.24 | 0.11% | 0.10 |
| Number | Turnover | |
| Stocks | 670 833 | 5 140 496.40 |
| Bonds | 55 | 110 955.95 |
| Compensatory Notes | 785 412 | 306 961.94 |
| Primary market | - | - |
BG40 (LS)/ SOFIX (RS) (chart)
Stocks in focus
Enemona (chart)
Enemona (E4A: 17.35; +2.05%) acquired the majority stake in EMKO-Belene in order to participate in projects in the building of Nuclear Power Plant - Belene. The products of the new subsidiary are mainly for the energy project of Alstom in Thermal Power Plant Maritza Iztok 1.
Recently, the company was traded around the IPO’s price of BGN 16.80 but no large sell orders below that level was seen. On Tuesday’ session E4A was traded in thin volumes in Tuesday.
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http://reports.aiidatapro.com/BBB/Elana/12_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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12 08 2008 Bulgaria Daily Report.pdf, 51 Kb
