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Sofia exchange BGREIT index hits new high after upbeat agri stats

Author Mario Tanev
Sofia exchange BGREIT index hits new high after upbeat agri stats Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), June 12 (SeeNews) - The Bulgarian Stock Exchange BGREIT index, which tracks real estate investment trusts, posted a third consecutive all-time high this week, ending at 123.47 points on Wednesday.

The BGREIT gained 0.05%, or 0.06 points, on Wednesday, exceeding its Tuesday record high of 123.41 points.

The index was backed by a 0.26% rise in the share price of its largest member by market capitalisation - Advance Terrafund REIT [BUL:6A6].

Early on Wednesday, the National Statistical Institute said that the average price per one decare of agricultural land grew by 7.9% to 941 levs in 2018. Rent prices increased by 4.3% to 48 levs per decare last year.

Arable land prices jumped 12.6% in 2018, while rent prices for arable lend rose 4.3%.

The blue-chip SOFIX index closed 0.29% lower at 578.63 points, partially due to a 2.31% plunge in the share price of Doverie United Holding [BUL:5DOV].

Other major decliners among SOFIX members on Tuesday were First Investment Bank [BUL:5F4] and drug maker Sopharma [BUL:3JR], which lost 2.37% and 2.01%, respectively. 

The BGTR30, in which companies with a free float of at least 10% have equal weight, dropped 0.20% to 504.91 points on Wednesday, hit by a 7% drop in the share price of Severcoop Gamza Holding [BUL:6S4]. 

Severcoop Gamza Holding's share price drop resulted from a single deal for just 4 shares on Wednesday. The company also led decliners among the wider BGBX40 index.

The BGBX40, which tracks the 40 most traded shares on the stock exchange in Sofia, closed the session 0.16% higher, as the effect of Severcoop Gamza Holding's losses was offset by a 10.18% jump in the share price of farming group Agria Group Holding [BUL:A72].

Total regulated market turnover rose to 570,000 levs ($330,000/291,000 euro) on Wednesday from 200,000 levs on Tuesday.

(1 euro = 1.95583 levs)

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