Headlines
- No Dividend For Yuri Gagarin Shareholders
- Outlook on Euroins Revised to Negative
Overview
Stocks Mixed Again
The Bulgarian Stock exchange saw another day of flat trading on Tuesday, with indices moving in narrow ranges throughout the trading session. The benchmark SOFIX gained some yardage in early trading but at 10:30 a.m. the party was over. The index stepped into the negative territory and remained there by the end of the trading session. SOFIX closed at 419.51, down by 0.15%. The total return BGTR30 was also among the fallers, down by 0.22%. Meanwhile, the broad BG40 closed almost unchanged at 117.52, up by 0.03%. BGREIT added 0.18%, helped by Bulgarian Real Estate Fund REIT [5BU; +1.12%].
Turnover in the equity market was boosted to BGN 2.1 mln by deals in Zarneni Hrani Bulgaria [T43; -0.66%] which contributed to 71% of the total trading volume on Tuesday. Around 1:15 p.m. a total of 2.495 million shares changed hands at BGN 0.603 apiece in a turnover of BGN 1.5 mln.
Meat processor Mekom [MKX] continued to climb, adding 5.92% to BGN 0.805 per share in a turnover of BGN 27.2 th. Last week Mekom said it plans to offer invertors 14,000,995 preferred shares at BGN 1.0 per share and a guaranteed dividend yield of 12% per annum. share price of Mekom skyrocketed 31.9% in the last five trading sessions.
Among the blue chips, fertilizer maker Neochim [3NB] rose the most, by 1.23%, but volume was insignificant. Albena [6AB; +1.17%], Enemona [E4A; +1.12%], and Odessos Shiprepair Yard [5ODE; +0.84%] also gained ground in light volumes. The company said it had updated its tender offer documentation, which was rejected by the financial regulator last week, but the price offered to minority owners remained BGN 85.0 per share.
| Value | Daily Chng | YTD Chng | |
| SOFIX | 419.51 | -0.15% | -1.82% |
| BG 40 | 117.52 | 0.03% | 0.31% |
| BG REIT | 43.67 | 0.18% | -9.04% |
| BGTR 30 | 325.07 | -0.22% | -2.92% |
| Shares Turnover (BGN th) | 2 114.93 |
| Bonds Turnover (BGN thnds) | 46.27 |
| OTC market Turnover (BGN th) | 568.99 |
| Total Daily Turnover (BNG th) | 2 739.03 |
| market Capitalisation (BGN mln) | 11 055.99 |
| market Capitalisation/GDP | 17% |
| Top Gainers | Ticker | Change |
| Mekom AD | MKX | + 5.92% |
| Medica AD | 5MA | + 2.40% |
| CB Central Cooperative Bank AD | 4CF | + 0.69% |
| Top Losers | Ticker | Change |
| Moststroy | 5MY | -4.85% |
| Expat Beta REIT | E7P | -2.12% |
| Orgachim AD | 5ORG | -2.05% |
* 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) |
| 9.47 | 419.51 | -0.15% | -1.82% | 204 |
Corporate news
No Dividend For Yuri Gagarin Shareholders
The Board of Directors of Yuri Gagarin PLC-Plovdiv [4PX] proposes no dividend to be paid for year 2009, the company said in a statement. The proposal will be voted at a company shareholder meeting scheduled for April 28. The company posted a net profit of BGN 4.2 mln in 2009, vs. a loss of BGN 287 th a year earlier, on 1.6% higher revenues and 9.4% lower operating expenses.
Outlook on Euroins Revised to Negative
Bulgaria’s National credit rating Agency, a unit of Moody's Investors Service, changed the outlook on Insurance company Euroins [5IC] to negative from stable. The outlook reflects Euroins’ weakening profitability and capital adequacy ratios, it was said in a statement. The agency affirmed Euroins’ long and short term financial strength ratings at bgA3 and bgP-2, respectively.
BG40 Stocks (table)
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Newsletter Daily 2010.03.16.pdf, 56 Kb
