Bulgarian Stocks Mostly Rise, Synergon Paces Volume

The SOFIX index, which includes the 20 most liquid stocks on the Bulgarian Stock Exchange (BSE), advanced 1.15% to 359.21 points, and the broader BG40 index, which tracks the 40 most traded shares on the bourse, gained 1.32% to 106.41.

“Nothing interesting happened. It was another session marked by exceptionally low turnover. The short-term upward trend continued today albeit tentatively and in low volumes,” Dimitar Georgiev, a broker with Sofia-based Elana Trading brokerage, told SeeNews.

BSE’s total turnover, excluding block and other pre-agreed deals, fell to 1.1 million levs ($727,000/572,000 euro) from 28.9 million levs on Tuesday, when volumes were lifted by a large-scale transaction in fuel retailer Petrol.

Petrol closed 4.99% lower at 11.16 levs in a volume of over 1,200 shares.

The most traded stock on Wednesday was industrial group Synergon Holding, Georgiev said. The most likely reason is the sale of assets, which helped the company to almost triple its nine-month consolidated net profit to 20.4 million levs, he said.

Synergon, which published its financial statement on Friday, added 2.0% to 2.04 levs in volume of over 108,000 shares on Wednesday.

On Wednesday, advancers led losers 55 to 36 and 11 stocks closed unchanged.

The BG TotalReturn30 (BG TR30) index, in which companies with a free float of at least 10% have equal weight, was up 1.09% to 277.91 points, while the BG-REIT index, tracking the performance of real estate investment trusts, ended 0.57% down at 47.07 points.

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, gained 2.29% to 55.93 points.

(1 euro = 1.95583 Bulgarian levs)