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Bulgarian Stock Indices Extend Losing Streak

Sep 2, 2009, 4:14:53 PMArticle by Iva Doneva
share
SOFIA (Bulgaria), September 2 (SeeNews) -  Bulgarian stock indices extended their losing streak for a third day running on Wednesday in rising volumes, bourse data showed.

Bulgarian Stock Indices Extend Losing Streak

The SOFIX, which comprises the 20 most liquid shares trading on the Bulgarian Stock Exchange (BSE), dropped 1.71% to 437.61 points and the broader BG40 index, which tracks the 40 most traded shares on the bourse, plunged 2.51% to 120.1 points.

The SOFIX fell by 1.94% on Tuesday and by 1.58% on Monday. The BG40 lost 1.97% on Tuesday and 2.0% a day earlier.

On Wednesday, fallers outnumbered gainers 64 by 17 and 11 stocks ended flat.

Turnover, excluding block and other pre-agreed deals, rose to 1.6 million levs ($1.2 million/818,000 euro) from 1.0 million levs on Tuesday.

Only five of the blue chips gained ground, one closed unchanged and the remaining 15 ended lower. The top decliner was power tools maker Sparky Eltos whose stock plummeted 11.1% to 2.0 levs as 16,488 shares were traded.

Fertilizers maker Neochim closed flat at 35 levs as 466 stocks changed hands. The top gainer was real estate investment trust ELARG Agricultural Land Opportunity Fund, which added 2.13% to 0.96 levs in tiny volume.

Blue chip Central Cooperative Bank was among the most liquid stocks with 112,463 shares traded. It closed 4.04% lower at 1.45 levs.

The BG-REIT index, tracking the performance of real estate investment trusts, inched 0.02% lower to 44 points after a 0.95 decline the previous day. The bourse's BG TotalReturn30 index, in which companies with a free float of at least 10% have equal weight, dropped 2.33% to 321.81 points after falling by 2.72% on Tuesday. On Monday, the BG-REIT added 0.47% while the BG TotalReturn30 lost 1.53%.

The Dnevnik 20 index, calculated by local business daily Dnevnik from the share prices of the 20 leading companies in terms of liquidity and market capitalisation, slid 1.97% to 63.65 points.

(1 euro=1.95583 Bulgarian levs)

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