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market Highlights
BSE ended lower on Thursday after a volatile session in moderate volumes. Most positions were subject of profit taking and declined in tight range. The institutional investors maintained cautious approach to the market. The number of deals decreased as buyers withdrew from the market. Large cross deal with Kauchuk (KAU: 53.35; -3.96%) set up 70% from the daily turnover. The company is subsidiary of Chimimport (CHIM: 8.63; -0.69%) and probably the stake of the holding changed hands.
of the holding changed hands.
Corporate Commercial Bank (CORP: 87.28; +0.90%) was actively traded for consecutive session. However, Central Cooperative Bank (CCB: 6.14; +4.78%) outperformed the banking sector and managed to sustain levels above BGN 6.00. market sell-off pressured the shares of Sopharma (SFARM: 6.23; -4.15%) and the main index. Sparky Eltos (ELTOS: 13.62; +5.99%) continued the positive run under broad-based buying interest. ELTOS opened lower but rapidly soared and hit BGN 13.99. The 4Q net profit of the company strongly improved y-o-y to BGN 9.3 m. sales also increased but in tight range. P/E of 24.50 is above the market average, whereas P/B of 2.39 is lower.
The end of the quarter is approaching and we expect some positive performance for several blue chips, including Sopharma, Monbat, Eltos, some of the subsidiaries of Chimimport. It is not unusual to see those positions gaining moderately before a final end-quarter jump.
BG40 (LS)/ SOFIX (RS) (chart)
| SOFIX | 1244.53 | -1.42% | -17.97 |
| BG40 | 354.07 | -2.53% | -9.18 |
| BGTR30 | 816.54 | -1.76% | -14.62 |
| BGREIT | 96.25 | 0.80% | 0.76 |
| Number | Turnover | |
| Stocks | 3 606 072 | 20 104 263.93 |
| Bonds | 217 | 426 199.51 |
| Compensatory Notes | 161 627 | 66 971.65 |
| Primary market | - | - |
Stocks in focus
Trace Group Hold (chart)
Board of Directors of Trace Group Hold (TRACE: 122.24; -0.64%) decided to establish new subsidiary - Road Signalization and Equipment, headquartered in Stara Zagora. The capital of the company amounts BGN 5 000, divided in 50 units at BGN 100 each. All units are ownership of TRACE. The main activity of the new company is producing and trading with products bounded with road signalization, construction, reconstruction of housing and trade buildings. TRACE’s shares settled in the spread between BGN 122.50 and BGN 125.24 during the session in moderate volumes. The P/E, based on the consolidated yearly financial results remained above the market average. Among infrastructure companies Moststroy (MOSTS: 124.84; +1.34%) outperformed the sector in thin session.
HERTI
Board of Directors of Herti took a decision to restructure its liabilities in order to decrease its financial costs and to increase its investment credit with the purpose of implementing the company’s investment program. 13 797 shares were subscribed on the ipo at BGN 3.10, which is far from been a success. The public offering was leaded on January, 25.
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Bulgaria Daily Report 27 03 2008.pdf, 53 Kb
