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market Highlights
Bulgarian indices begun the new week in the red after a volatile trading. The market opened on the upside but the selling pressure predominated and pushed down indices. Large package transaction of Corporate Commercial Bank (6C9: 91.00; -0.33%) supported the overall traded volumes. Totally 5 718 shares of 6C9 changed hands during the session. Central Cooperative Bank (4CF: 3.60; 0.00%) closed unchanged in extremely low volumes, whereas its parent company Chimimport (6C4: 8.20; -2.84%) was under pressure. Alcomet (6AM: 5.41; -3.46%) also declined in improved volumes. The infrastructure sector closed in different directions in thin investors’ interest. Holding Roads (6H2: 17.50; +1.44%) outperformed but only 24 shares of the company changed hands. The end of the month is approaching and we expect some positive performance for several blue chips this week.
| SOFIX | 1020.81 | -0.46% | -4.73 |
| BG40 | 251.25 | -0.43% | -1.09 |
| BGTR30 | 660.77 | -0.51% | -3.37 |
| BGREIT | 87.68 | 0.13% | 0.11 |
| Number | Turnover | |
| Stocks | 363 411 | 2 472 102.87 |
| Bonds | 1 070 | 1 070 000.00 |
| Compensatory Notes | 612 411 | 232 739.31 |
| Primary market | - | - |
BG40 (LS)/ SOFIX (RS) (chart)
Stocks in focus
Synergon Holding
Synergon Holding (6S7: 6.45; -3.70%) disappointed the market with weak 1H financial results. The net profit amounted BGN 44 000 as compared to BGN 2 m for the same period last year. sales improved by 33% y-o-y, but the total costs also increased in the same rate. Trailing P/E is below the market average as well as other multiples and could provide support in short term. Only 4 511 shares changed hands on Monday but the price fell to BGN 6.30. However, the bid orders probably will support the position and 6S7 will manage to sustain levels above BGN 6.00.
Synergon Holding (chart)
MONBAT
Monbat’s (5MB: 11.60; +0.87%) net revenues for July amounts BGN 12 m, which represents 15.54% growth as compared to July 2007. The summarized data for the first seven months of 2008 show that the company has generated net revenues of BGN 105.5 m, which is 71.83% up y-o-y. The net profit for July improved by 89.68% as compared to July, 2007 and reached BGN 2.5 m. For the first seven months of the year the company has generated profit of BGN 17.8 m.
The management of the company forecasted, only for the 3Q of 2008 on individual basis, net revenues to amount BGN 43.5 m and profit before taxes to amount BGN 8.7 m. For the nine months of 2008 - net revenues from sales of BGN 137 m and profit before taxes of BGN 24 m.
The company sustained levels above BGN 11.50 during Monday’s session in improved volumes.
MONBAT (chart)
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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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25 08 2008 Bulgaria Daily Report.pdf, 57 Kb
