You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Sofia stock indices end lower as Albena shares plunge to six-year low

Author Mario Tanev
Sofia stock indices end lower as Albena shares plunge to six-year low Author: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), February 26 (SeeNews) - Bulgarian Stock Exchange stock indices closed lower on Tuesday as resort operator Albena [BUL:6AB] suffered another heavy bruising, losing 4.5% of its share price during the session.

Albena shares closed at 38.2 levs apiece - their lowest close since January 2013, and extended their losses since the start of the month to 14%.

Albena is due to publish its consolidated financial statement for 2018 by the end of the week. On a non-consolidated basis, the company cut its net profit by 40% to 10.8 million levs in 2018, as it posted higher expenses and a decrease in revenue.

The blue-chip SOFIX index ended the session 0.33% lower at 591.07 points, as Albena fell most among its members. The index gave up part of its gains on Monday, when it posted its biggest daily rise since January 31, of 1.81%.

Battery maker Monbat followed with a 3.42% drop to 7.05 levs, despite reporting earlier on Tuesday that its consolidated profit before taxes rose 78.6% year-on-year to 2.1 million levs in January. 

Albena was also the top decliner among members of the equally-weighted BGTR30, in which companies with a free float of at least 10% have equal weight. The index closed the session 0.32% to 505.35 points.

The wider BGBX40 index, which follows the 40 most traded and capitalised stocks, shedded 0.24% to 117.05 points. IoT products developer Allterco [BUL:A4L] fell most among BGBX40 constituents, by 4.84%, followed by Albena.

The BGREIT index, which tracks real estate investment trusts listed on the Sofia exchange, ended 0.26% lower at 120.84 points. Bulgarian Real Estate Fund REIT [BUL:5BU] lost 1.04% of its share price, while Bulland Investments dropped 0.90%.

Total trading turnover on the BSE regulated market rose to 3.19 million levs ($1.9 million/1.6 million euro) on Tuesday from 1.32 million levs on Monday.

(1 euro = 1.95583 levs)