market WRAP-UP
The indices moved in opposite directions on Wednesday. The large majority of the issues were under heavy sell pressure and eventually we witnessed significant declines. SOFIX advanced by 891.27 bps (+0.66%), the price weighted BG40 lost (- 2.89%), closing at 207.33 after the sharp drop in Cooperative Bank (4CF, BGN 3.0, -8.51%), Orgahim (5ORG, BGN 135, - 7.53%) and Industrial Capital Holding (4I8, BGN 6.081,-6.14%). BGTR30 also declined, fixing 580.41 (-0.53%) with the major moves coming from Stara Planina Hold (5SR, BGN 3.11, -5.76%), Albena Holding (5ALB, BGN 8.37, -4.34%), and Fazerles (4F6, BGN 96.5, -3.5%). The most liquid company was Chimimport (6C4, BGN 6.197, +2.40%) where more than 170k shares change hands.
| Sofix | BG 40 | BGREIT | BGTR30 | |
| Value | 891.27 | 207.33 | 83.05 | 580.41 |
| 1-day change (%) | 0.66 | -2.89 | -0.43 | -0.53 |
| 7-day change (%) | -9.63 | -13.89 | -2.20 | -10.01 |
| 90-day change (%) | -25.28 | -35.56 | -13.02 | -27.33 |
| 365-day change (%) | -47.61 | -56.31 | -16.95 | -41.96 |
Note: BG REIT and BG TR30 started 31 August 2007
| BSE Daily Volume (shares) | 2 982 655 |
| BSE Daily Volume (BGN) | 10 650 838 |
| Avg Daily Turnover YTD (BGN) | 11 477 109 |
| Avg Daily Turnover 12 mo. (BGN) | 19 359 061 |
Most recent macro data
| Inflation (HICP, M/M August) | -0.1% |
| Inflation (HICP, cum. 2008) | 7.1% |
| LEONIA Reference Rate | 5.44% |
| SOFIBOR /3 months/ | 7.301 |
| GDP Growth (Y/Y Q2 2008 preliminary) | 7.1% |
| Unemployment (July 2008) | 5.96% |
exchange rates
| Current | Change | |
| BGN/USD | 1.37502 | 0.00414 |
| BGN/EUR | 1.95583 | Fixed |
| EUR/USD | 1.4224 | -0.0043 |
DAILY TRADING (selected stocks)
All figures in BGN (BGN/EUR rate fixed at 1.95583)
Compensatory Instruments (table)
ECONOMY AND POLITICS
Energy sector
Green energy investments expected to top EUR 500m in North-Eastern Bulgaria
Some EUR 500m will be invested in wind farms in North-Eastern Bulgaria by the end of 2009, said Velizar Kiryakov, chairman of the association of eco energy producers. Another BGN 100m will be spent on photovoltaic systems.
US company AES is developing the biggest wind farm project in Bulgaria. It is the investor in the Maritsa East coal-fired power plant and is building a 156 MW wind farm near Kavarna, on the northern coast. Spanish company Eolica will raise a 160 MW wind park locked between Suvorovo and Valchi Dol, near the northern coastal city of Varna. A few smaller projects of Austrian and Bulgarian companies with a total capacity of 105 MW will go online by the end of 2008.
Presently, renewable energy makes 9.1% of Bulgaria total output with hydro power plants generating 9.0% of it. The remainder is produced by wind generators, photovoltaic systems and biomass.
Source: Dnevnik
CORPORATE news
Pending listing
FSC approves the registration documents of the Medical Diagnostic Center Biocheck
FSC approved the registration document of Medical Diagnostic Center Biocheck for the listing of its shares on the BSE. The registered capital of the company is BGN 0.93m divided into 931k shares each with nominal value of BGN 1. Egrohospital AD based in Greece owns directly and indirectly 100% of Biocheck’s shares. Biocheck is a private medical institution in Bulgaria with total investments in the company up to date exceeding USD 4m.
Source: Investor.bg, Biocheck, FFBH
Pending listing
Equest plans to delay Technomarket’s ipo
Equest Investment balkans plans to delay Technomarket Domo’s ipo over concerns about the financial markets crises. The chain posted a consolidated turnover of EUR 260m for the first half of the year, up 17% YoY. Its pre-tax profit doubled to EUR 11.6m.
Source: Dnevnik
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BMU18-09-08.pdf, 72 Kb
