November 2 (SeeNews) - The blue-chip SOFIX index of the Bulgarian Stock Exchange ended a three-day losing streak on Friday, as Central Cooperative Bank (CCB) [BUL:4CF] shares gained 2.29% after hitting a 19-month low at the end of the previous session.
The SOFIX closed Friday's trading session 0.04% higher at 596.80 points. However, the index lost 0.47% overall this week.
CCB shares closed at 1.565 levs, after dropping to 1.53 levs at the end of Thursday's trading session. CCB shares lost 3.99% of their price this week.
The other major gainer on Friday was diversified group Stara Planina Hold [BUL:5SR], which also added 2.29%, closing at 6.7 levs.
At the other end of the scale, industrial group Holding Varna [BUL:5V2] lost 7.22% to 34.6 levs. The company is currently in the process of increasing its capital, as it is seeking to raise up to 45 million levs via the issuance of up to 1.25 million shares at a price of 36 levs each. Holding Varna intends to use the funds for the upgrade and construction of hotels, as well as to repay part of its outstanding liabilities.
All other indices ended lower on Friday.
The wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, fell 0.12% to 116.76 points, extending its losing streak to three consecutive sessions and shedding a total of 0.60% this week. The index was dragged to red territory on Friday largely due to Holding Varna's 7.22% drop and a 4.44% decrease in the share price of cables maker Emka [BUL:57E].
The BGREIT index, which tracks the performance of real estate investment trusts (REITs), lost 0.16% to 116.99 points, posting back-to-back losing sessions. Overall, the BGREIT gained 0.46% this week, following a strong rise on Monday.
A 1.04% decrease in the share price of Bulgarian Real Estate Fund REIT [BUL:5BU] was the reason for the index's decline on Friday, although it was partially offset by a 0.26% increase in the share price of Advance Terrafund REIT [BUL:6A6] - the largest constituent of the index in terms of market capitalisation.
The BGTR30 index, in which companies with a free float of at least 10% have equal weight, shedded 0.24% to 497.56 points, on the back of Holding Varna's drop in share price.
Total trading turnover on the regulated market remained extremely low since the start of November, as it edged up to 231,000 levs ($134,400/118,100 euro) on Friday from 208,000 levs on Thursday. In comparison, turnover averaged over 500,000 levs in November 2017.
(1 euro = 1.95583 levs)
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