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market Highlights
The market closed almost unchanged after a volatile trading. BG40 was the worst performer due to the decline of Odessos (5ODE: 234.00; -2.49%). Only two shares of the ship repair yard were traded during the session. The overall turnover declined as compared to the last session but the buying interest still predominated. Monbat (5MB: 11.08; +0.72%) breached the level of BGN 11.00 as well as Chimimport (6C4: 8.50; +1.68%) managed to sustain the current highs.
The previous session’s gains raised the possibility for more visible market recovery. The turnover increased on Tuesday but Wednesday’s session returned to the usual volumes and made the market participants cautious again. The momentum was lost as the large institutional investors preferred to stay aside for the moment. The level of 1000 points provided good support for SOFIX and the positive summer bias could still send the index 10-15% above the recent lows. However, the repetition of the advance from May requires more broad-based buying. The infrastructure companies are not providing the same support as happened in May and this could jeopardize the summer rally as the new shares from the capital increase of Holding Roads will put some serious pressure on the stock. If the market should make a summer rally, it needs to start very soon.
| SOFIX | 1033.94 | 0.24% | 2.48 |
| BG40 | 257.38 | -0.61% | -1.59 |
| BGTR30 | 677.03 | -0.10% | -0.70 |
| BGREIT | 88.56 | 0.36% | 0.32 |
| Number | Turnover | |
| Stocks | 230 402 | 1 836 266.75 |
| Bonds | 63 | 99 209.20 |
| Compensatory Notes | 34 896 | 14 039.18 |
| Primary market | - | - |
BG40 (LS)/ SOFIX (RS) (chart)
Stocks in focus
Moststroy (chart)
BSE entered the shares from the capital increase of Moststroy (5MY: 22.00; +1.85%) and Holding Roads (6H2: 16.72; +1.95%) in the register. 5MY rise its capital to BGN 5.6 m through stock dividend and 6H2 increased its capital to BGN 30.7 m. The trading with new shares could provide selling pressure over the positions and probably could push down the main index. However, recently the infrastructure sector enjoyed market’s attention in moderate volumes.
SOPHARMA (chart)
Sopharma (3JR: 4.64; -0.64%) bought another 4.93% (10 843 446 shares) of Ukrainian Vitamins Plc and the total stake in the company’s capital amounts 79.07%. 3JR acquired the company last year.
The position was traded in the spread between bid and ask offers during Wednesday’s session.
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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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13 08 2008 Bulgaria Daily Report.pdf, 56 Kb
