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Earnings season brings slim decreases to Sofia stock indices

Author Mario Tanev
Earnings season brings slim decreases to Sofia stock indices Author: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), October 30 (SeeNews) - Bulgarian Stock Exchange indices closed lower on Wednesday, amid a wave of interim financial reports published by their members, which face an October 31 reporting deadline.

The blue-chip SOFIX index edged down 0.08% to 555.86 points, as car battery maker Monbat [BUL:5MB] and Advance Terrafund REIT [BUL:6A6] led decliners among its members.

Monbat shares closed 0.79% lower at 6.25 levs, while Advance Terrafund REIT erased 0.78% of its share price, to 1.915 levs.

Earlier on Wednesday, Monbat announced that its non-consolidated net profit nearly halved to 6.6 million levs in the January-September period of 2019 from 11.4 million levs in the same period of 2018, following a slight decrease in revenue.

Advance Terrafund REIT ended a three-day winning streak, which was backed by its upbeat nine-month financial report. On Monday, the company reported that its net profit rose to 3.4 million levs in the first nine months of 2019 from 2.7 million levs in the same period of last year, supported by a hefty increase in revenue.

The BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, fell 0.06% to 108.99 points, while the BGTR30 index, in which companies with a free float of at least 10% have equal weight, dipped 0.14% to 495.15 points.

The BGREIT index, which tracks the performance of real estate investment trusts, erased 0.88% to 126.55 points.

Total regulated market trading turnover jumped to 1.4 million levs on Wednesday from 300,000 levs on Tuesday.

(1 euro = 1.95583 levs)