market WRAP-UP
The negative trend continued on Tuesday. The indices made another step back as the sellers prevailed again. SOFIX declined 1.98% to 456.73, BG40 dropped 2.31% to 139.11, while the BG TR30 lost 2.30% to 346.99. The BG REIT index was the only one to end the day green at 53.15 bps (+0.13%). BSE's total turnover was low again and came to only BGN 2.16m. The day loser was Lead and Zink Complex (5OTZ, BGN 9.50, -17.31%) with 4,631 shares. Other bigger decliners were Neohim (3NB, BGN 58.10, -7.94%), Sparky Eltos (SL9, BGN 3.65, -7.12%), Synergon Holding (6S7, BGN 2.75, -5.17%) and Chimimport (6C4, BGN 2.82, -4.47%). Infrastructure companies also decreased: Moststroy's stock depreciated by 4.63% to BGN 6.39 per share. Holding Roads shed 4.41% to BGN 3.90 per share, while Trace Group Hold lost 2.08% ending the day at BGN 47 per share.
| Sofix | BG 40 | BGREIT | BGTR30 | |
| Value | 456.73 | 139.11 | 53.15 | 346.99 |
| 1-day change (%) | -1.98 | -2.31 | 0.13 | -2.30 |
| 7-day change (%) | -4.91 | -4.31 | -3.61 | -3.05 |
| 90-day change (%) | -55.83 | -45.95 | -39.98 | -48.75 |
| 365-day change (%) | -74.19 | -74.48 | -46.85 | -65.30 |
Note: BG REIT and BG TR30 started 31 August 2007
| BSE Daily Volume (shares) | 410 366 |
| BSE Daily Volume (BGN) | 2 160 304 |
| Avg Daily Turnover YTD (BGN) | 10 440 238 |
| Avg Daily Turnover 12 mo. (BGN) | 16 501 784 |
Most recent macro data
| Inflation (HICP, M/M Sep) | 0.9% |
| Inflation (HICP, cum. 2008) | 8.0% |
| LEONIA Reference Rate | 5.61% |
| SOFIBOR /3 months/ | 7.825% |
| GDP Growth (Y/Y H1 2008) | 7.1% |
| Unemployment (Sep 2008) | 5.8% |
exchange rates
| Current | Change | |
| BGN/USD | 1.53435 | 0.01714 |
| BGN/EUR | 1.95583 | Fixed |
| EUR/USD | 1.2747 | -0.0144 |
Sofix/ BG 40 / BGREIT / BGTR30 (charts)
DAILY TRADING (selected stocks)
All figures in BGN (BGN/EUR rate fixed at 1.95583)
Compensatory Instruments (table)
ECONOMY AND POLITICS
Macroeconomic news and statistics
Bulgaria’s Finance Minister: Unemployment rate might go up in 2009
Bulgaria's Finance Minister Plamen Oresharski stated on Tuesday that one of the risks that the government had tried to prepare for in the 2009 draft state budget was the possibility that the unemployment in the country might increase. Oresharski explained that Bulgaria was facing a risk of decreased domestic demand and decreased economic growth which could lead to a rise in the unemployment level.
That was why 1% of all state social security payments would be directed to the Unemployment Fund. Oresharski also predicted that foreign direct investments in Bulgaria would decrease in 2009. Source: Novinite.com
CORPORATE news
Kremikovtzi AD [4KW]
Wartime reserves are buying Kremikovtzi steel
Bulgaria’s wartime reservehas started to buy out the last quantities of steel produced by Kremikovtzi, said Vasil Yanachkov, leader of the Confederation of the Independent Syndicates in Bulgaria trade union at the plant.
The measure was approved by the Council of Ministers last week to raise cash for the workers’ delayed August and September wages after Ukrainian Vorskla Steel exited the tolling agreement with the mill over worsening market conditions. The wages should be paid at several goes, said a high-ranking Kremikovtzi official. The sold production is expected to bring in some BGN 24m of which BGN 11m should be spent for salaries.
Source: Dnevnik
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