Sofia bourse indices reverse losses as turnover slightly drops

The biggest blue-chip gainer was Advance TerraFund REIT [BUL:ATER], which increased 2.05% to 2.98 levs, followed by drug maker Sopharma [BUL:SFA] with a 1.81% rise to 4.50 levs in the second-largest trading volume for the day, 18,261 shares.

Earlier on the day, Sopharma announced that it did not manage to acquire full control over subsidiary Sopharma Properties [BUL:SFI] at the expiry of its tender offer.

Sopharma Properties itself added 3.07%, rising above the offer price, to 8.40 levs and helping propel the BGTR30 index, under which companies with a free float of at least 10% have equal weight, up 0.17% to 737.21 points.

Energy and insurance group Eurohold Bulgaria [BUL:EUBG] paced the blue-chip decliners, retreating 2.86% to 2.04 levs with 11,120 shares traded.

On Friday, Eurohold subsidiary Eastern European Electric Company (EEEC) initiated a squeeze-out of residual shareholders at two former local units of Czech energy group CEZ -- Electrohold Sales [BUL:CEZE] and Electrodistribution Grid West [BUL:CEZD].

The BGBX40, which tracks the 40 most traded shares on the Sofia bourse, grew 0.17% to 141.59 points, on the heels of Sopharma Properties' rise and a 5.63% jump in Industrial Capital Holding [BUL:HIKA] to 3.00 levs.

On the losing side, FairPlay Properties REIT [BUL:FPP] slipped 7.37% to 0.88 levs and Zarneni Hrani Bulgaria [BUL:ZHBG] lost 5.85% to 0.177 levs.

The increase in Advance TerraFund also contributed to a 0.41% advance in the BGREIT index, which tracks seven real estate investment trusts and which closed at 183.38 points.

The most liquid stock on Friday was Balkan and Sea Properties REIT [BUL:BSP], which closed flat at 21.20 levs as 24,800 of its shares changed hands generating about 53% of the main market turnover.

Total turnover on the main market of the BSE amounted to 976,000 levs ($501,010/499,020 euro) on Friday, or a small decrease from 991,230 levs on Thursday.

(1 euro = 1.95583 levs)