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Sopharma generates bulk of Sofia bourse turnover in slow session

Author Mario Tanev
Sopharma generates bulk of Sofia bourse turnover in slow session hxdbzxy/Shutterstock.com

SOFIA (Bulgaria), June 26 (SeeNews) - Trade in shares of drug maker Sopharma [BUL:3JR] generated the majority of trading turnover on the regulated market of the Bulgarian Stock Exchange on Tuesday, bourse data shows.

Just over 35,000 Sopharma shares changed hands in 29 deals during the trading session, generating a turnover of 149,500 levs ($89,200/76,400 euro).

Total regulated market trading turnover fell sharply to 249,500 on Tuesday from 854,000 levs on Monday.

Sopharma has been actively repurchasing own shares during the previous trading sessions under its programme, which targets up to 10% of the company's share capital. The drug maker bought back 28,951 shares for 123,372 levs on Monday, while throughout last week Sopharma repurchased a total of 11,296 own shares.  

The blue-chip SOFIX index lost 0.08% to 631.87 points, dragged down by a 3.33% decrease in the share price of lender Central Cooperative Bank [BUL:4CF], which closed at 1.74 levs.

On Wednesday, Central Cooperative Bank shareholders will vote on the company's proposal to skip dividend distribution for 2017.

Six blue chips closed Tuesday's trading session lower, three saw their share price rise, while the remaining six SOFIX constituents closed unchanged.

The biggest gainer was construction company Trace Group Hold [BUL:T57], which added 4.86% to 3.88 levs.

The BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, lost 0.18% to 124.36 points, undermined by a 3.20% drop in the share price CEZ Distribution Bulgaria [BUL:3CZ], following news that local Inercom has filed for approval from the competition regulator to acquire the power distributor from Czech energy company CEZ Group.

The deal between CEZ Group and Inercom, which includes six more CEZ units in Bulgaria, was signed in February. The agreement raised concerns about Inercom's ability to finance the acquisition, which resulted in the establishment of a parliamentary ad hoc committee with the purpose of looking into the deal.

The BG-REIT index, which tracks the performance of real estate investment trusts, closed 0.46% lower at 114.87 points, dragged down by a single deal in Bulland Investments [BUL:5BD]. Bulland Investments shares fell 8.18% to 1.01 levs, as just 10 shares changed hands in one transaction.

There were deals with the shares of only one other BG-REIT member - Advance Terrafund [BUL:6A6], which closed unchanged at 2.19 levs.

The BG TotalReturn30 index, in which companies with a free float of at least 10% have equal weight, edged down 0.05% to 522.22 points.

(1 euro = 1.95583 levs)

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