 |
© Elana Trading |
market Highlights
Bulgarian market closed almost unchanged with the exception of SOFIX, which added 1% during the session. Most of the main index components finished in the green leaded by Monbat (5MB: 12.18; +3.28%). The battery producer was subject of permanent buying interest and easily breached the threshold of BGN 12.00. Sopharma (3JR: 4.49; +2.05%) also contributed for the SOFIX’s growth as well as Lead and Zinc Complex (5OTZ: 28.68; +2.43%) and Industrial Holding Bulgaria (4ID: 6.17; +2.77%). Recently, the pharmaceutical company announced that its stake in the Ukrainian company Vitamini reached 99.07%. The heavy weighted Bulgarian American credit Bank (5BN: 58.70; +1.73%) gained in improved volumes. Central Cooperative Bank (4CF: 3.60; -0.28%) closed near the flat line and was the worst performer among banking sector. Investors ignored the 1H report of Albena (4AB: 65.00) and there were no deals with the company’s shares.
The total turnover remained low. The usual end of month buying orders could improve the trading on Friday but is less probable to upturn the market trend.
| SOFIX | 1030.88 | 1.04% | 10.57 |
| BG40 | 250.69 | 0.00% | 0.00 |
| BGTR30 | 662.79 | 0.25% | 1.67 |
| BGREIT | 86.46 | -0.08% | 1.67 |
| Number | Turnover | |
| Stocks | 216 490 | 2 120 810.63 |
| Bonds | 55 | 110 070.39 |
| Compensatory Notes | 35 633 | 14 441.27 |
| Primary market | - | - |
BG40 (LS)/ SOFIX (RS)
Stocks in focus
Orgachim
The 1H consolidated report of Orgachim (5ORG: 176.00; -1.40%) couldn’t move the trading with company’s shares but it was expected as the financial results were already priced in. The net profit fell by 52% y-o-y to BGN 3 m. sales retained the growth rate of 20% on yearly basis as during the 1Q. The short-term liabilities solidly increased y-o-y, mainly due to the higher delivery costs and obligations toward related persons. Trailing P/E remained higher as compared to market average.
Orgachim (chart)
Holding Roads 6H2
Two of the infrastructure companies announced weak consolidated 1H financial results after the market close. Trace Group Hold (T57: 112.00; -0.44%) deepened its losses to BGN 3 m. Holding Roads’s (6H2: 17.40; +0.85%) financial result also slumped to BGN 1.4 m or 71% down y-o-y. Holding Roads reported sales growth of around 28% as compared to the same period last year, whereas Trace Group Hold announced 14% growth of revenues.
The infrastructure companies usually are among speculators favorites but recently were aside from market’s attention. Their revenues usually jump during the summer months.
Holding Roads (chart)
*****
To view the original document, please click on the link below:
http://reports.aiidatapro.com/BBB/Elana/28_08_2008_Bulgaria_Daily_Report.pdf
*****
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
*****
AII Data Processing does not endorse in any way, the views, opinions or recommendations expressed above. The use of the Information is subject to the terms and conditions as published by the original source, which you have to read and accept in full prior to the execution of any actions taken in reliance on Information contained herein.
 | SeeNews SeeNews is a business and financial news and information provider which brings its visitors and customers access to detailed coverage on the fast-growing companies, economies and markets of ten Southeast European nations. |
Search for: news |
Search for: market |
Search for: company |
Search for: index |
Search for: report |
Search for: chart |
Search for: credit |
Search for: sales |
Search for: Bulgaria |
28 08 2008 Bulgaria Daily Report.pdf, 61 Kb
