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Sofia bourse indices extend losses, turnover surges sixfold

Sofia bourse indices extend losses, turnover surges sixfold Author: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), June 23 (SeeNews) - Bulgarian Stock Exchange (BSE) indices continued their losing streak on Thursday, with the blue-chip SOFIX retreating the most, by 0.88% to 606.43 points, a day after the coalition government led by prime minister Kiril Petkov lost a no-confidence vote in parliament.

Energy and insurance holding company Eurohold Bulgaria [BUL:EUBG] led the decliners among members of the SOFIX, with a drop of 5.45% to 2.08 levs in a trading volume of 2,320 shares, bourse data showed.

Earlier in the day, Fitch Ratings affirmed Eurohold's Long-Term Issuer Default Rating (IDR) and its senior unsecured rating at 'B', and removed it from Rating Watch Negative (RWN) after affirming a stable outlook.

M+S Hydraulic [BUL:MSH] gained the most out of the SOFIX constituents, adding 4.55% to 9.20 levs as 6,835 shares changed hands.

Eurohold's losses, along with a 6.06% decline in Trace Group Hold [BUL:T57] to 3.72 levs, weighed on the wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse. The BGBX40 declined 0.79% to 142.52 points.

Eurohold also influenced the 0.43% drop to 734.97 points in the BGTR30 index, in which companies with a free float of at least 10% have equal weight. The BGTR30 ended the session 0.43% lower at 734.97 points, further dragged down by a 3.54% loss in Neochim [BUL:NEOH] to 54.50 levs.

The BGREIT index, which tracks real estate investment trusts, erased 0.24% to 178.23 points, as both Bulgarian Real Estate Fund REIT [BUL:BREF] and Advance Terrafund REIT [BUL:ATER] declined, by 0.87% and 0.34% respectively.

The most traded stock on the fourth day of the week was diversified group Synthetica [BUL:SYN], which edged up 0.40% to 50.0 levs. Synthetica generated turnover of 1.22 million levs ($656,575/623,780 euro) as 24,430 of its shares were bought and sold.

Total turnover on the main market of the BSE jumped to 6.64 million levs on Thursday from 1.1 million levs on Wednesday.

(1 euro = 1.95583 levs)

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