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Nov 22, 2007 15:28 EEST
SOFIA (Bulgaria), November 22 (SeeNews) – Bulgarian stock indices fell on Thursday as the stocks showed some signs of a possible end to the current correction move, brokers said.
The SOFIX index tracking the 17 most liquid shares on the Bulgarian Stock Exchange (BSE) fell 0.19% to 1,658.47 and the broad BG 40 index lost 0.82% to 515.59.
“There is still insecurity on the market and that impacts prices as the vacillating movement and slight falls continue,” Svetozar Abrashev, broker at First Financial Brokerage House (FFBH), told SeeNews. "However, there are already certain positions, which are moving up."
Abrashev said shares of financial and industrial group Eurohold Bulgaria and road construction company Holding Company Roads rose on their consolidated financial results for the first nine months of the year, which investors considered good.
Eurohold rose 2.6% to 6.87 levs in a volume of some 86,550 shares, while Holding Company Roads ended 6.1% to 35,000 levs with 18 stocks changing hands.
Shares in hardboard manufacturer Fazerles, a BG 40 heavyweight, lost 3.9% to 298 levs in a volume of some 250 stocks.
The market may stabilise if the companies’ nine-month consolidated results, due by the end of November, are mostly good, Abrashev said and added that sharp rises were unlikely.
On Thursday 76 stocks fell, 58 rose and 22 closed flat. BSE turnover rose to 15.4 million levs ($11.7 million/7.9 million euro) from 11.0 million levs on Wednesday.
The BSE's BG TotalReturn30 (BG TR30) index, in which companies with a free float of at least 10% have equal weight, slid 1.35% to 1,059.86. The BG-REIT index, which tracks the performance of real estate investment trusts traded on the stock exchange, lost 0.71% to 99.56.
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, edged 0.05% down to 265.23 points.
(1 euro = 1.95583 Bulgarian levs)
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