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market Highlights
The market made a consecutive session with gains at the open, which eroded and indices finished near the flat line. The volumes improved as compared to Monday’s session, mainly due to Mekom (MKX: 2.27; +3.18%). Two large deals for totally 706 818 shares of newly listed MKX were done. Lead and Zink Complex (5OTZ: 32.08; +7.75%) outperformed the market. 5OTZ opened on the upside and managed to close near the intraday high of BGN 33.80. The rising price of lead is supporting the market’s expectations. Billboard (5BP: 5.08; +4.74%) also rallied and kept levels above BGN 5.00 in moderate volumes. However, the quarterly report is unlikely to show signs of strength. Support were provided also by Sopharma (3JR: 4.70; +1.16%) and Sparky Eltos (SL9: 9.10; +3.86%), although in low levels.
BG40 (LS) SOFIX (RS) (chart)
| SOFIX | 1027.50 | 0.33% | 3.37 |
| BG40 | 261.19 | 0.06% | 0.15 |
| BGTR30 | 681.57 | -0.57% | -3.91 |
| BGREIT | 90.52 | -0.09% | -0.08 |
| Number | Turnover | |
| Stocks | 1 042 942 | 3 212 266.50 |
| Bonds | 2 465 | 4 938 486.35 |
| Compensatory Notes | 176 889 | 71 107.72 |
| Primary market | - | - |
Stocks in focus
Emka (chart)
The small cap EMKA (57E: 5.00; -8.94%) retreated after the reported decline of sales and profits. The 1H 2008 net profit declined by 18.5% y-o-y to BGN 1.3 m. sales also decreased but in small rate – 2.3% on yearly basis. The main reason for the lower results is the price of copper, which is the basic material for the company’s production and is pushing down the profit margins. Trailing P/E of 12.8 is below the market average as well as P/S of 0.46.
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Copyright: 2006 Elana Trading. All rights reserved.For further Information please contact Elana Trading, 49 Bulgaria blvd. , 1404 SofiaPhone: +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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22 07 2008 Bulgaria Daily Report.pdf, 48 Kb
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