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Nov 08, 2007 17:03 EEST
SOFIA (Bulgaria), November 8 (SeeNews) – Bulgarian stock indices ended mostly down on Thursday in a continuing correction, brokers said.
The SOFIX index tracking the 17 most liquid shares on the Bulgarian Stock Exchange (BSE) lost 0.92% to 1,860.97 points and the broad BG 40 index slid 0.69% to 568.69 points.
“It seems that the correction which started last week has not come to an end,” Kliment Rudinski, a broker at Sofia-based Bulbrokers, told SeeNews.
Rudinski added that the correction is logical after recent steep rises. Both indices have posted a series of record highs since the beginning of the year, when foreign funds flooded on to the stock exchange following the country’s entry to the European Union in January.
“Certain shares are not down but most traded have fallen,” Rudinski said.
Among losers on Thursday were lead and zinc smelter OTZK and car battery maker MonBat, he added. OTZK closed 2.6% lower at 111 levs in volume of nearly 1,930 shares and MonBat ended at 30.53 levs, down 1.5% in volume of some 9,760 shares.
On the winning side was real estate investment trust Mel Invest, Rudinski said. Company shares gained 5.7% to 1.43 levs in volume of 15,300 shares.
BSE's turnover rose to 51.9 million levs ($38.9 million/26.4 million euro) from 50.4 million levs on Wednesday.
BSE's BG TotalReturn30 (BG TR30) index, in which companies with a free float of at least 10% have equal weight, fell 0.79% to 1,166.71. The BG-REIT index, which tracks the performance of real estate investment trusts traded on the stock exchange, edged 0.07% up to 102.79.
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, lost 0.87% to 294.71 points.
(1 euro = 1.95583 Bulgarian levs)
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