Bulgarian Stock Exchange Expands Price Ranges Triggering Halts in Trading by 30%

“In view of the high volatility in the financial markets worldwide, BSE-Sofia informs all its members that the price ranges causing volatility interruptions shall be extended by 30%,” the bousre said in a statement.

The bourse can expand the price range by up to 30% for a single trading session to prevent suspension of trading. It resorted to this move every trading day of last week except Thursday due to extensive losses.

According to the BSE rules, the shares traded on the bourse’s official market have a dynamic price range of 5.0% of the reference price, and the static price range is set at 10% of the last price achieved at an auction.

The Sofia bourse's blue-chip index SOFIX was 6.5% up to 623.45 points and the broader BG 40 index surged by 7.23% to 163.21 points in the first hour of trading on Monday.

The markets in Asia and Europe opened in positive mood on Monday following serious steps by policymakers to rescue the financial system, including through higher bank desposits guarantees and state acquisition of bank stakes.