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Trade in Holding Varna lifts Sofia bourse turnover, Gradus sinks further below IPO price

Author Mario Tanev
Trade in Holding Varna lifts Sofia bourse turnover, Gradus sinks further below IPO price hxdbzxy/

SOFIA (Bulgaria), November 7 (SeeNews) - Trade in shares in diversified group Holding Varna [BUL:5V2] formed over 80% of regulated market turnover on the Bulgarian Stock Exchange on Wednesday, after the first four sessions of this month saw below-average turnover.

A total of 23,500 shares in Holding Varna changed hands during the trading session, closing unchanged at a price of 36 levs.

Total trading turnover increased significantly, to 1.05 million levs on Wednesday from 335,000 levs in the preceding session.

Regulated market turnover did not exceed 300,000 levs in all other trading sessions in November. In comparison, turnover averaged over 500,000 levs in November 2017.

Poultry producer Gradus was among the top decliners on Wednesday, as its shares hit a new all-time low of 1.62 levs, after ending the session 2.70% lower. In June, Gradus raised 81.4 million levs in the largest IPO on the Sofia bourse since 2007, priced at 1.8 levs per share.

The benchmark SOFIX index of the BSE extended its losing run to three consecutive sessions, after losing 0.28% to 592.62 points. Overall, the index has lost 0.70% so far this week.

Battery maker Monbat [BUL:5MB] lost most among blue-chips, closing 2.08% lower at 7.05 levs. Diversified group Eurohold Bulgaria [BUL:4EH] and resort operator Albena [BUL:6AB] followed with drops of 1.85% and 1.74%, respectively.

The wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, posted a 5-day losing run, ending Wednesday's session 0.15% lower at 116.18 points. The index was hit by a 5.88% decrease in the share price of printing and advertising company Billboard [BUL:5BP], which was the only company on Wednesday to lose more than Gradus.

The BGREIT index, which tracks the performance of real estate investment trusts (REITs), gained 0.20% to 117.47 points, on the back of a 1.05% increase in the share price of Bulgarian Real Estate Fund REIT [BUL:5BU]. All other BGREIT components ended the session unchanged.

The BGREIT is now some 0.89% away from an all-time high.

The BGTR30 index, in which companies with a free float of at least 10% have equal weight, has now gone seven losing sessions in a row, after dropping 0.20% on Wednesday. Monbat, Eurohold Bulgaria and Albena were the biggest decliners among the constituents of the BGTR30 during the session, same as for the blue-chip SOFIX index.

(1 euro = 1.95583 levs)