market wrap-up
The market stepped back on Wednesday and SOFIX lost 0.34% to 986.22 bps, BG40 closed at 240.76 bps (-0.75%), BGTR lost (-0.83%) to 644.99 bps., BG REIT fixed at 84.92 bps. (-0.76%). Most of the issues were traded predominantly in small volumes and registered negative changes. The most liquid company for second consecutive day was First Investment Bank (5F4, BGN 6.03, + 1.34%) where almost 152k shares change hands. Among the top losers of the session were Lead and Zink Complex (OTZK, BGN 25.5, -7.37%), Moststroy (5MY, BGN 17.6, -6.88) and Central Cooperative Bank (4CF, BGN 3.3, - 3.51%). The day gainer was Albena (6AB, BGN 65, +3.17%). Vouchers also lost value as KZ closed at 0.38 (-0.26%) and PKB moved -4.65% down to 0.39.
Note: BG REIT and BG TR30 started 31 August 2007
| BSE Daily Volume (shares) | 951 976 |
| BSE Daily Volume (BGN) | 4 827 074 |
| Avg Daily Turnover YTD (BGN) | 11 647 309 |
| Avg Daily Turnover 12 mo. (BGN) | 19 519 422 |
| Inflation (HICP, M/M July) | 1.4% |
| Inflation (HICP, cum. 2008) | 7.2% |
| LEONIA Reference Rate | 5.24% |
| SOFIBOR /3 months/ | 7.267% |
| GDP Growth (Y/Y Q2 2008 preliminary) | 6.3% |
| Unemployment (July 2008) | 5.96% |
exchange rates
| Current | Change | |
| BGN/USD | 1.3877 | 0.0049 |
| BGN/EUR | 1.95583 | Fixed |
| EUR/USD | 1.4094 | -0.00499 |
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 retains stable ranking in Doing Business 2009 report
Bulgaria has retained its stable ranking in the global lists of countries conducting regulatory reforms, according to the "Doing Business 2009" report - the sixth in a series of annual reports published by the International Monetary Fund (IFC) and the World Bank.
Bulgaria is ranked 45 from 181 economies. It is ahead of Romania (47th) and other countriesfrom the region, members of the European Union (EU) such as Slovenia (54), Italy (65) and Poland (76).
Source: Novinite.bg
Energy sector
Bulgargaz presses for a 36.5% price hike
Gas retailer Bulgargaz said it has asked the local regulator to approve an increase in natural gas prices of 36.5% in the fourth quarter of the year. Bulgargaz stated the soaring alternative fuel prices, the rising U.S. dollar and the lower third-quarter price approved by the regulator as the reasons for their request. The national watchdog can either okay or reduce the price hike request.
Source: Dnevnik
Energy sector
Lukoil Bulgaria reduces the price of its diesel products
Lukoil Bulgaria decided to adjust the prices of some its products due to changes in the market conditions. The company reduced the price of its eurodiesel by 65 bp and now 1000 liters would cost BGN 2187.6. On the other hand the price of propane-butane increased 1.7% to BGN 2154 per ton.
Source: Investor.bg, FFBH
Transport Sector
The Bulgarian importer of Citroen – Automotor Corporation, borrows EUR 55m to expand its business activities
The Bulgarian importer of Citroen, Automotor Corporation, has taken a EUR 55m syndicated loan in order to build new showrooms and to upgrade the existing ones. Automor Corporation has a distribution and service network consisting of 22 centres in all of Bulgaria’s major cities.
Source: Dnevnik, FFBH
CORPORATE news
Bulland investments ADSIC [5BD]
Bulland investments to build Nissan auto complex
Bulgarian real estate investment trust Bulland investments has broken ground on a Nissan showroom and service centre in the northern town of Veliko Tarnovo, according to the fund’s executive director Valentin Karabashev. The REIT has signed a ten-year preliminary lease with the car maker. The project will cost approximately BGN 4m and is opening in seven months on a 0.7 ha area.
Source: Dnevnik
First Investment Bank [5F4]
First Investment Bank submitted a request for its shares to be traded on the Official market of the BSE
First Investment Bank submitted a request for its shares to be transferred to the Official market, segment of the BSE according to a press release of the local stock exchange. Presently, the bank’s shares are traded on the Unofficial market, Segment A, but all the requirements for the shift to the Official market are met.
Source: Investor.bg, FFBH
Aktiv Properties ADSIC [5AX]
Aktiv Properties acquires 1.74 ha next to Plovdiv Airport
Aktiv Properties acquired 1.74 ha next to the Plovdiv Airport through an exchange with the local municipality according to a company’s press release.
Source: Investor.bg; FFBH
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BMU11-09-08.pdf, 69 Kb
