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Sofia stock indices end higher, CEZ units post hefty gains

Sofia stock indices end higher, CEZ units post hefty gains Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), June 21 (SeeNews) - The blue-chip SOFIX index of the Bulgarian Stock Exchange ended the week with a 0.83% daily increase to 577.70 points on Friday, as the shares of two units of Czech power utility group CEZ posted stong gains following acquisition news, bourse data showed.

The shares of power utility CEZ Distribution Bulgaria [BUL:3CZ] leaped 7.14% to 240 levs, while power supplier CEZ Electro Bulgaria [BUL:1CZ] added 4.42% to 23,600 levs, bourse data indicated. One share in CEZ Electro Bulgaria  and 1,846 shares in CEZ Distribution Bulgaria changed hands.

On Thursday financial and insurance group Eurohold Bulgaria [BUL:4EH] said that it has signed an agreement to acquire the assets of CEZ in Bulgaria for 335 million euro ($378.9 million). The deal is subject to approval from Bulgaria's Commission for Protection of Competition.

The bourse indices were also pushed up by blue-chip diversified group Doverie United Holding [BUL:5DOV], which closed 15.27% higher at 3.01 levs.

Doverie United Holding was also the top gainer among the components of the wider BGBX40 index and the equally-weighted BGTR30 index.

The wider BGBX40 index, which tracks the 40 most traded shares on the stock exchange in Sofia, rose 0.75% to 115.08 points on Friday, while the BGTR30 index, in which companies with a free float of at least 10% have equal weight, added 1.26% to 504.93 points. 

The BGREIT index, which tracks real estate investment trusts, closed the session 1.88% higher at 123.05 points, mostly due to a 9.23% rise in Aktiv Properties REIT [BUL:5AX] shares, followed by a  by a 5.26% increase in the share price of Bulgarian Real Estate Fund REIT.

Other major blue-chip gainers on Friday were Bulgarian Real Estate Fund REIT [BUL:5BU] and meat producer Gradus [BUL:GR6], which added 6.32% and 3.98%, respectively. 

(1 euro = 1.95583 levs)

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