market WRAP-UP
The down move continued on Thursday as SOFIX 1230.37 bps (-3.62%), BG40 347.95 bps (-3.93%), BG REIT 96.06 bps (- 1.48%) and BGTR30 800.80 bps (-2.86%) lost altitude. The red colour came from Chimimport (CHIM, BGN 8.80, -7.12%), Lead and Zink Complex (OTZK, BGN 60, -7.69%), Central Cooperative Bank (CCB, BGN 5.60, -6.64%), Sopharma (SFARM, BGN 6.15, -6.24%), etc. Among holding companies Doverie Obedinen Holding decreased the most and after the successful capital increase from the beginning of this week, lost 8.06% to BGN 10.36 compared to BGN 11.27 on the previous trading session. The liquidity was above daily average turnover, amounting to BGN 10.6m. The short list of companies to remain positive that day: Bulgarian River Shipping (BRP, BGN 5.60, +7.48%), Bulgarian Holding company (BHC, BGN 6.30, +2.94%) and Sparky Eltos (ELTOS, BGN 11.40, +0.97%) survived without any particular news but strong buying demand.
SOFIX/ BG40 (chart)
BGREIT/ BGTR30 (chart)
| Sofix | BG 40 | BGREIT | BGTR30 | |
| Value | 1 230.37 | 347.95 | 96.06 | 800.80 |
| 1-day change (%) | -3.62 | -3.93 | -1.48 | -2.86 |
| 7-day change (%) | -8.31 | -8.53 | -1.83 | -6.91 |
| 90-day change (%) | -30.40 | -32.84 | -6.95 | -27.03 |
| 365-day change (%) | -2.80 | 42.42 | -3.94 | -19.92 |
Note: BG REIT and BG TR30 started 31 August 2007
| BSE Daily Volume | 1 734 530 |
| BSE Daily Turnover | 12 897 772 |
| Average Daily Turnover YTD | 15 702 425 |
| Average Daily Turnover 12 months | 38 052 254 |
Most recent macro data
| Inflation (M/M February) | 1.1% |
| Inflation (cumulative 2008) | 2.5% |
| LEONIA Reference Rate | 4.84% |
| SOFIBOR /3 months/ | 6.688% |
| GDP Growth (Y/Y 2007) | 6.2% |
| Unemployment (Feb 2008) | 7.26% |
exchange rates
| Current | Change | |
| BGN/USD | 1.26813 | 0.02174 |
| BGN/EUR | 1.95583 | Fixed |
| EUR/USD | 1.54229 | -0.0269 |
ECONOMY AND POLITICS
Macroeconomic news and statistics
Unemployment rate down to 7.26% in February
Unemployment rate in Bulgaria stood at 7.26% in February 2008, down by 0.12% MoM and by 2.22% YoY. A total of 268 756 unemployed were registered with job centres in February, down by 4 524 compared to the previous month. The number of unemployed has decreased by 82 419 compared to February 2007. Unemployment declined in 25 regions of the country, but it registered an increase in Sofia, Blagoevgrad and Bourgas regions.
A total of 14 751 vacancies were announced by the job centres in February 2008.
Source: Profit.bg
Food&Tobacco
Bulgaria beer sales up 33% MoM in February
Bulgarian beer consumption jumped 33.5%MoM to over 259,000 hectoliters in February, shows data of the Union of Bulgarian Brewers.
Heineken-owned Zagorka AD, registered the largest sales in February of 87,489 hectoliters, including 339 hectoliters shipped abroad. Carlsberg Bulgaria came in second with 72,000 hectoliters. Kamenitza AD, owned by Belgium's InBev, was third with 66,000 hectoliters sold in February. In terms of exports, the company ranked second with 881 hectoliters. Veliko Tarnovobased Boliarka VT topped exports with 3,391 hectoliters.
Zagorka also leads in terms of YTD sales with 154,000 hectoliters ahead of Carlsberg Bulgaria with 146,000 and Kamenitza with 106,000 hectoliters. The January-February 2007 market added 2,882 hectoliters in comparison with the year-ago period.
Source: Dnevnik
CORPORATE news
SFARM
Sopharma continues regional expansion
Sopharma has secured the approval of the Serbian anti-trust authority to acquire a controlling stake in Serbian peer Ivancic&Sons. Ivancic&Sons is a small pharmaceutical company, which portfolio includes 21 products and four pharmacies in Belgrade.
Source: Dnevnik
MONBAT
Monbat reports audited unconsolidated profit of BGN 17.4m
On Thursday Monbat presented its annual unconsolidated report which doesn’t show any changes from the preliminary figures.
2007 audited unconsolidated revenues stood at BGN 144m, 83% YoY increase. EBITDA was reported at BGN 24.9m in 2007, 70% YoY growth. Net profit was BGN 17.4m compared to BGN 7.6m in 2006.
Source: FFBH
PET
Petrol's stock may be moved to BSE unofficial market
Fuel distributor Petrol's shares will be put under supervision for a period of 3 months,the Board of the Directors of the Bulgarian Stock exchange (BSE) decided. The measure was prompted by the fact that Petrol has failed to comply with the BSE requirement for listing on the official market, stipulating that the free float should be at least 10%. If Petrol's issue does not comply with the requirements upon the expiry of the 3-month period, it will be moved to BSE unofficial market.
Source: Profit.bg
FPP
FairPlay Properties forecasts 2008 dividend of BGN 0.16 per share
REIT FairPlay Properties said it expects to distribute BGN 10.4m as dividend from its 2008 earnings or BGN 0.16 per share. FairPlay Properties forecasts that the bulk of the revenues will come from apartment sales estimated at close to BGN 42m with a further BGN 850k in rent income.
Source: Dnevnik
ALOFMI
Trade in ALOFMI's rights starts on March 27The trade in rights issued in the capital raise of REIT Agricultural Land Opportunity Fund Mel Invest will start on the BSE on March 27 and will continue until April 9.The REIT plans to raise its capital from BGN 14m to BGN 28.1 through the issuing of 14m rights. Each right will allow the subscription of one new share at BGN 1.10 issue value. If all shares are subscribed, the company will collect a total of BGN 15.4m. The capital will be considered successful if at least 2m shares get subscribed and paid.
Source: Profit.bg
AST
Trade in Astera's shares starts on March 25
Trade in shares of Astera Cosmetics will start on the BSE on March 25. Astera's issue will be registered on segment A of the unofficial market. The value of the issue amounts to BGN 1.7m, divided into as many shares of BGN 1 par value.
Source: Profit.bg
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