Headlines
- Bulgarian River Shipping Out of Two Dow Jones STOXX indices
- Bulgaria's Q4 GDP Grows 3.6% Y/Y - Flash Estimate
- GDP Growth, Growth of Credits to Slow Down – Central Bank
- Jan Jobless Rate at Prelim. 6.5% - Labour Minister
- Chelopech Mining Plans USD 160 Mln investments
Overview
Stocks End Lower Despite Positive Start
Stocks ended lower despite the positive start as the negative sentiment prevailed towards the end of the session. SOFIX lost 0.92% to 274.32 and BG40 was down by 0.69% to 89.48. Only six of the BG40 components ended higher as turnover in shares fell to BGN 740, 930 from BGN 814,580 on Friday.
Among the most liquid were Sopharma Trading [SO5; +19.05%], Corporate Commercial Bank [6C9; -0.01%], Bulgarska Roza-Sevtopolis [4BJ; +0.19%] and First Investment Bank [5F4; +0.08%]. Sopharma Trading, the day's most liquid share, was also the top gainer as it surged by 19.05% to BGN 2.50 in a turnover of BGN 250,150 and Bulgarska Roza- Sevtopolis, also from the Sopharma group, added 0.19% to BGN 0.54 with shares worth BGN 54,669 traded. Sopharma [3JR; -4.17%] itself fell by 4.17% to BGN 1.86 in a turnover of BGN 5,161. First Investment Bank closed higher at BGN 1.22 in a turnover of BGN 32,714, while Corporate Commercial Bank edged lower to BGN 76.5 in a turnover of BGN 188,780.
Two of last week's top gainers - Hydraulic Elements & Systems [4HE; - 21.05%] and Holding Roads [6H2; -3.01%], lost ground. Hydraulic Elements & Systems, which rose by 17.99% last week, slumped by 21.05% to BGN 3.0 in a turnover of BGN 9,272. Holding Roads, which in the previous week advanced by 30.85%, closed at BGN 2.00 in a turnover of BGN 22,160.
| Value | Daily Chng | YTD Chng | |
| SOFIX | 274.32 | -0.92% | -23.52% |
| BG 40 | 89.48 | -0.69% | -17.00% |
| BG REIT | 40.50 | -1.48% | -16.55% |
| BGTR 30 | 196.91 | -0.79% | -27.82% |
| Shares Turnover (BGN th) | 740.93 |
| Bonds Turnover (BGN thnds) | 6.89 |
| OTC market Turnover (BGN th) | 3 804.22 |
| Total Daily Turnover (BNG th) | 4 599.24 |
| market Capitalisation (BGN mln) | 10 087.54 |
| market Capitalisation/GDP | 16% |
| Top Gainers | Ticker | Change |
| Sopharma Trading | SO5 | + 19.05% |
| Devin AD | 6D3 | + 8.70% |
| Lead & Zinc Complex | 5OTZ | + 4.72% |
| Top Losers | Ticker | Change |
| Hydraulic Elements & Systems | 4HE | -21.05% |
| Agro Finance REIT | 6AG | -9.87% |
| Bulgarian Real Estate Fund REIT | 5BU | -4.71% |
* Gainers are among shares with turnover above BGN 10 th and losers are among shares with turnover above BGN 4 th;
Trends
SOFIX (chart)
| P/E, ttm | Value | Daily Chng | YTD Chng | Turnover (BGN thnds) |
| 5.04 | 274.32 | -0.92% | -23.52% | 337 |
Corporate news
Bulgarian River Shipping Out of Two Dow Jones STOXX indices
Bulgarian River Shipping AD-Ruse [5BR] will be taken out from two of the stock indices calculated by Dow Jones STOXX effective February 18, Dow Jones STOXX said in a statement. The company will be taken out of the base of the DJ STOXX Eastern Europe TMI Small and DJ STOXX EU Enlarged TMI indices because it has not been traded for ten consecutive days, the statement said.
Economy and Politics
Bulgaria's Q4 GDP Grows 3.6% Y/Y - Flash Estimate
Bulgaria’s GDP rose by 3.6% y-o-y in the last quarter of 2008, slower than the 6.8% y-o-y growth recorded in Q3’08, according to a flash estimate of the National Statistics Institute. For the whole of 2008m the country’s economy expanded by 6.0% after growing by 6.2% in 2007, NSI said. GDP growth in Q4’08 was helped mainly by the fast increase in value added in the agriculture sector, which advanced by 20.6% y-o-y, NSI said. Value added in the services sector was 3.2% more and value added in the industrial sector decreased by real 0.1% in Q4’08, it added. Value added in agriculture jumped by 23.4% in 2008, while services created 5.7% more value added. Value added in the industrial sector increased by 3.9% last year, NSI said. Bulgaria’s government has said it expects the country’s GDP growth to slow down to a real 4.7% in 2009 under an optimistic scenario, while in the negative scenario GDP growth this year is seen at 2.1%.
GDP Growth, Growth of Credits to Slow Down – Central Bank
Bulgaria’s economic growth will slow down this year as pessimism about the Business environment grows and companies are likely to face difficulties in selling their production in the first half of 2009, the country’s central bank, BNB, said in a report. The worsened economic situation abroad will have a negative effect on local companies’ investment plans and the slower growth in incomes will curb the rise in household consumption, BNB said. It also said that credit growth is likely to fall to 15% by the middle of the year compared to 31.6% for December last year.
Jan Jobless Rate at Prelim. 6.5% - Labour Minister
Bulgaria's January jobless rate fell to a preliminary 6.5% from 7.38% a year earlier but increased from 6.27% at end-2008, Labour and Social Policy Minister Emilia Maslarova was quoted as saying by state-run news agency BTA. The average jobless rate in Bulgaria was 6.31% last year, one of the lowest unemployment levels in the EU, Maslarova said.
Chelopech Mining Plans USD 160 Mln investments
Chelopech Mining, a subsidiary of Canada-based Dundee Precious Metals Inc., plans to invest USD 160 mln in a new installation for processing of gold, silver and copper from the Chelopech mine, Dundee’s general manager for investment projects in Bulgaria, Alex Nestor, told state-run news agency BTA. The company expects to sign an agreement for public-private partnership with the government by the end of March. The state will contribute for 25% of the investment’s value.
Upcoming Events
FairPlay Agricultural Fund [0FAA]
17. 02. 2009 FairPlay Agricultural Fund’s bonds worth a total of EUR 3 mln start trading under the ticker 0FAA. The nominal value of each bond is EUR 1,000.
BG40 Stocks (table)
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