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Eurohold Bulgaria shares bounce back, Sofia stock indices end mixed

Author Mario Tanev
Eurohold Bulgaria shares bounce back, Sofia stock indices end mixed Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), April 3 (SeeNews) - Financial and insurance group Eurohold Bulgaria [BUL:4EH] rose most among Bulgarian Stock Exchange blue chips on Tuesday, closing 5.95% higher at 1.96 levs.

Eurohold Bulgaria ended the first two sessions of the week in red, dropping 1.04% on Monday and a further 2.63% on Tuesday.

Minutes before the Sofia bourse end bell on Monday, Eurohold Bulgaria announced that it has tabled a binding offer for the assets of Czech energy group CEZ in Bulgaria. In parallel, Eurohold is looking into the possibility to divest part of non-insurance assets in order to focus on its high growth potential business segments, the holding company said in its statement.

CEZ Distribution Bulgaria [BUL:3CZ] shares did not trade on Wednesday by are 7.34% up this week, while the other BSE-listed CEZ unit - CEZ Electro Bulgaria [BUL:1CZ], has not traded so far this week.

The blue-chip SOFIX index advanced 0.37% to 581.90 points on Wednesday. Recent SOFIX additions Industrial Holding Bulgaria [BUL:4ID] and Gradus [BUL:GR6] followed in Eurohold's footsteps, gaining 1.43% and 1.0%, respectively.

The BGBX40, which tracks the 40 most traded shares on the Sofia bourse, added 0.20% to 116.29 points. Besides the major gainers, which the BGBX40 shares with the SOFIX, battery maker Monbat [BUL:5MB] supported the wider index's growth by posting a 1.46% increase in its share price on Wednesday.

The BGTR30, in which companies with a free float of at least 10% have equal weight, edged down 0.01% to 503.95 points. The rise in Eurohold and Monbat's share prices was offset by Central Cooperative Bank [BUL:4CF] and software developer Sirma Group Hold [BUL:SKK], which lost 4.94% and 3.82%, respectively. 

The BGREIT index, which tracks real estate investment trusts, declined 0.26% to 120.51 points, as Advance Terrafund REIT [BUL:6A6] and Bulgarian Real Estate Fund REIT [BUL:5BU] erased 0.78% and 0.52%, respectively.

Total trading turnover on the BSE regulated market rose to 1.2 million levs ($689,000/614,000 euro) on Wednesday from 297,000 levs on Tuesday.

A large chunk of the turnover on Wednesday was formed by a single deal for 50,050 shares in 235 Holdings, worth just over 1 million levs.

(1 euro = 1.95583 levs)