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Eurohold Bulgaria retreats further, drags Sofia stock indices along

Author Mario Tanev
Eurohold Bulgaria retreats further, drags Sofia stock indices along Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), March 21 (SeeNews) - Bulgarian Stock Exchange indices posted back-to-back losing sessions as financial and insurance group Eurohold Bulgaria [BUL:4EH] retreated further.

Eurohold Bulgaria closed 5.26% lower at 1.8 levs on Thursday, after losing 9.52% on Wednesday.

On Tuesday, Eurohold shares soared 20% after the company announced that it will seek to raise up to 154.1 million levs via the issuance of up to 79,010,240 preferred shares. The company intends to use the proceeds from the capital hike to reduce its debt and strengthen the capital position of its unit Euroins Insurance Group.

Eurohold Bulgaria is a member of the Bulgarian Stock Exchange blue-chip SOFIX index, the wider BGBX40 and the equally-weighted BGTR30.

The SOFIX closed the session 0.49% lower at 585.98 points.

Besides Eurohold, the other major blue-chip decliners were recent additions Industrial Holding Bulgaria [BUL:4ID] and poultry producer Gradus, which lost 0.98% and 0.84%, respectively.

The BGBX40, which tracks the 40 most traded shares on the Sofia bourse, fell 0.27% to 115.94 points, while the BGTR30, in which companies with a free float of at least 10% have equal weight, edged down 0.06% to 505.56 points.

The BGREIT index, which tracks real estate investment trusts, edged up 0.02% to 120.14 points, as a 1.45% rise in Aktiv Properties REIT [BUL:5AX] shares offset a 0.42% drop in the share price of CCB Real Estate Fund REIT [BUL:5CK].

Total trading turnover on the BSE regulated market increased to 4.2 million levs ($2.4 million/2.1 million euro) on Thursday from 4.1 million levs on Wednesday.

(1 euro = 1.95583 levs)