market wrap-up
The week negative trend continued on Thursday. SOFIX lost 2.67% to 781.48 bps, BG 40 reached 192.84 bps (-2.89%), BGTR30 also closed negative at 522.25 bps (-1.87%) while BGREIT fixed to 76.97 bps (-1.64%). The most of the issues were traded predominantly in small volumes and registered negative changes. Day loser Toplivo (3TV) dropped by -9.36% to BGN 13.405, the next on the negative grade First Investment Bank (5F4) also slipped down to BGN 4.6 (-6.12%) and Odessos Shiprepair Yard (5ODE, BGN 202.01, -6.0%) mainly suffering from low liquidity as 53 shares changed hands during the day. On REIT territory the main issues to pull down the index were Real Estate Fund Bulgaria 5BU which increased to BGN 1.15, (-11.54%) with 500k shares traded.
| Sofix | BG 40 | BGREIT | BGTR30 | |
| Value | 802.94 | 198.58 | 78.25 | 532.22 |
| 1-day change (%) | 1.32 | 0.00 | -0.29 | 0.74 |
| 7-day change (%) | -6.14 | -4.20 | -4.21 | -5.46 |
| 90-day change (%) | -27.44 | -32.88 | -17.76 | -29.10 |
| 365-day change (%) | -57.82 | -64.82 | -21.75 | -46.78 |
| BSE Daily Volume (shares) | 1 566 633 |
| BSE Daily Volume (BGN) | 4 882 002 |
| Avg Daily Turnover YTD (BGN) | 11 204 726 |
| Avg Daily Turnover 12 mo. (BGN) | 18 871 204 |
Most recent macro data
| Inflation (HICP, M/M August) | -0.1% |
| Inflation (HICP, cum. 2008) | 7.1% |
| LEONIA Reference Rate | 5.66% |
| SOFIBOR /3 months/ | 7.483 |
| GDP Growth (Y/Y Q2 2008 preliminary) | 7.1% |
| Unemployment (August 2008) | 5.89% |
exchange rates
| Current | Change | |
| BGN/USD | 1.40677 | 0.01778 |
| BGN/EUR | 1.95583 | Fixed |
| EUR/USD | 1.3903 | -0.0178 |
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
Financial sector
Moody's downgrades DSK Bank, Raiffeisenbank, Piraeus Bank outlook to stable
Moody's has downgraded the outlook on the 'Baa3/Prime-3' long- and short-term foreign currency deposit ratings of DSK Bank, Raiffeisenbank Bulgaria and Piraeus Bank Bulgaria to stable from positive, due to the agency's decision to change the outlook on Bulgaria's Baa3 foreign currency deposit ceiling to stable from positive, the Greek Reporter.gr said today. Moody's has affirmed all other ratings and existing outlooks of the three institutions.
Source: Profit.bg
CORPORATE news
Oil and Gas exploration and Production AD [4O1]
Oil and Gas Exploration and Production Co. to drill near Kavarna
Bulgarian Oil and Gas Exploration and Production Co. will spend BGN 11m to operate a deposit near Kavarna, on the Bulgarian Northern coast, after obtaining a three-year permit. The company will explore a 415 sq. m. field and be awarded a concession contract if it discovers oil and gas deposits. In 2004 it signed a concession to operate a gas field in the Durankulak region and has signed contracts to explore near Pleven and Novachene.
The gas company, which is part of local industrial conglomerate Chimimport, recently changedits statutes to allow capital increases by a decision of the supervisory and management boards. The company will also venture into real estate by spending nearly BGN 100m on the construction of a golf course near Shabla, to the northeast. The local municipality has made an in-kind contribution of 110 hectares for the building of the course, which will be surrounded by one-family houses.
Source: Dnevnik
Trace Group Hold AD [T57]
Trace Hold Group,Holding Roads and Moststroy among the contenders to build Trakiya Highway Lot 3
Yesterday officials at the National Agency Road Infrastructure began unsealing the tender papers for the construction of Trakiya Highway Lot 3. A total of 8 companies filed bids. There are three public companies among them – Trace Hold Group (in Trakiya Trace Union), Holding Roads and Moststroy (Trakiya Union).
The LOT 3 Section of Trakiya Highway runs from Nova Zagora to Yambol. The section is an extension of LOT 2 (and runs through the territory of two districts – Sliven and Yambol. They will have seven highway overpasses and three underpasses.
Source: Profit.bg
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BMU03-10-08.pdf, 68 Kb
