Headlines
- Elana Agricultural Land Opportunity Fund REIT Sells Property for EUR 5.74, Repays Debt
- Bulgaria's October CPI Rises 0.5% M/M, Up 10.9% Y/Y
- Bulgarian 10m New Car sales Rise by 14% Y/Y
- Bulgaria’s Govt Appoints Board to Advise it on EU Funds
- Businessman Hristo Kovachki Charged with Tax Evasion
- Bulgaria's Q3 Average Monthly Salary Up 2.5% Q/Q
| Value | Daily Chng | YTD Chng | |
| SOFIX | 439.74 | -3.72% | -75.13% |
| BG 40 | 129.58 | -6.85% | -74.99% |
| BG REIT | 52.62 | -1.00% | -49.03% |
| BGTR 30 | 333.33 | -3.94% | -69.63% |
| Shares Turnover (BGN thnds) | 1 637.43 |
| Bonds Turnover (BGN thnds) | 976.19 |
| market Capitalisation (BGN mln) | 12 722.69 |
| market Capitalisation/GDP | 20% |
| Top Gainers | Ticker | Change |
| Pirinhart Razlog | 4PJ | + 99.92% |
| Doverie Obedinen Holding | 5DOV | + 3.38% |
| Balkan Progetti management | 59W | + 0.00% |
| Top Losers | Ticker | Change |
| Todoroff | 5T6 | -23.88% |
| Oil&Gas Explor.& Production | 4O1 | -12.50% |
| Orgachim | 5ORG | -11.05% |
* Gainers: Among shares with turnover above BGN thnd 10;
Losers: Among shares with turnover above BGN thnd 4;
| P/E, ttm | Value | Daily Chng | YTD Chng | Turnover (BGN thnds) |
| 5.84 | 439.74 | -3.72% | -75.13% | 966 |
Trends
SOFIX (chart)
Overview
The market Gloom Continues, P/E of SOFIX Dips Under 6
Investors on the Bulgarian Stock exchange joined the global wave of pessimism and pushed the market down to new lows. The downfall led the average P/E of the companies in SOFIX to a record low of 5.84. The blue-chip index tracked a gain of some 0.25% within minutes after the session’s opening but shortly afterwards the market was weighted down by fears and both the blue-chip SOFIX and the wider BG40 were pushed down by 3% by noon. Stress busted at midday and SOFIX was thrown at 439.74, down 3.72%, to touch a 5-year low. The wider BG40 bore even harder losses and closed down 6.58%, at 129.58, with 7 of its members posting double-digit losses.
Turnover totalled as little as BGN 1.6, remaining barely changed from BGN 1.3 mln on Tuesday, with Balkan Progetti management AD [59W; 0.00%], First Investment Bank [5F4; -6.58%] and Industrial Holding Bulgaria [4ID; - 4.53%] being the most actively traded shares.
In today’s low volume session paper producer Pirinhart – Razlog [4PJ; +99.92%], glass manufacturer Druzhba Staklarski Zavodi AD [4DR; +9.78%] and pharmaceutical company Unipharm [59X; +6.64%] were among the few companies ticking higher. Fallers were much more abundant and included winery Todoroff [5T6; -23.88%], industrials Formplast [4F8; -37.11%] and Decotex [4DE; -23.83%] and some of the conglomerates like Industrial Capital Holding [4I8; -19.05%] and TK-Hold PLC [T24; -18.98%] among others.
Corporate news
Elana Agricultural Land Opportunity Fund REIT Sells Property for EUR 5.74, Repays Debt
Elana Agricultural Land Opportunity Fund REIT [4EC] on Wednesday said it sold 4.1 ha of property for EUR 5.74 mln on November 7. It used part of the money to repay a EUR 2.3 mln loan to Allianz Bank Bulgaria, the REIT said. The fund has made a combined profit of more than BGN 6 mln from this sale and the sale of another 10.05 ha of land in June, it added.
Economy and Politics
Bulgaria's October CPI Rises 0.5% M/M, Up 10.9% Y/Y
Bulgaria's October consumer price inflation rose by 0.5% month-onmonth and increased by 10.9% on the year, the National Statistics Office said on Wednesday. Price acceleration was slower than in September, when consumer prices rose by a monthly 1.1% and were 11% higher on a yearly basis.
Bulgarian 10m New Car sales Rise by 14% Y/Y
Bulgarian car dealers sold 45,838 new cars in the first 10 months of the year, 14% more on a yearly basis, data from the country's car importers' union showed. Opel sold 10.21% of the total, followed by Toyota with 9.74% and Volkswagen with 8.89%. Growth has been slowing down since last year, when new car sales jumped by 22% to 52,009. New truck sales increased by 57.1% y-o-y to 3,693 with Mercedes trucks taccounting for 1,289 of the total.
Bulgaria’s Govt Appoints Board to Advise it on EU Funds
Bulgaria’s government has appointed a board of six leading European politicians to advise it on the spending of EU funds, media reported. The board, which will have a six-month mandate, will be headed by France’s former Prime Minister Dominique de Villepin. The Bulgaria has been repeatedly criticised of the organization of spending of EU money and millions of euro in aid from the bloc’s pre-accession programmes ISPA, SAPARD and PHARE have been frozen due to irregularities.
Businessman Hristo Kovachki Charged with Tax Evasion
Bulgarian businessman Hristo Kovachki, who is active in the fields of energy and retail, has been charged with tax evasion, local media quoted Sofia city Prosecutor’s Office as saying. Kovachki was released on bail of BGN 300,000, the biggest imposed in Bulgaria ever. No Information about the sum which Kovachki might have evaded paying was provided.
Bulgaria's Q3 Average Monthly Salary Up 2.5% Q/Q
The averagemonthly salary in Bulgaria in the third quarter rose by 2.5% on the quarter to BGN 523 and was 22.5% higher than a year earlier, data from the NSI showed. Salaries in the public sector grew by 25.9% y-o-y and by 22.1% in the private sector.
Upcoming Events
Trace Group Hold [T57]
08.01.2009 Trace Group Hold [T57] will hold a shareholders’ meeting to vote on a proposed share buyback. The company plans to buy back up to 3% of its share capital.
BG40 Stocks (table)
*****
To view the original document, please click on the link below:
http://reports.aiidatapro.com/BBB/Karoll/Newsletter_Daily_2008.11.12.pdf
*****
Copyright: 2006 Karoll AD. All rights reserved. For further Information please contact Karoll, 57 Hristo Botev Str, 1303 Sofia, Bulgaria |Tel. +359 2 981 13 81, fax: +359 2 986 34 66, e-mail: research@karoll.net, web site: http://www.karoll.net
*****
AII Data Processing does not endorse in any way, the views, opinions or recommendations expressed above. The use of the Information is subject to the terms and conditions as published by the original source, which you have to read and accept in full prior to the execution of any actions taken in reliance on Information contained herein.
 | SeeNews SeeNews is a business and financial news and information provider which brings its visitors and customers access to detailed coverage on the fast-growing companies, economies and markets of ten Southeast European nations. |
Search for: news |
Search for: market |
Search for: management |
Search for: share |
Search for: buyback |
Search for: company |
Search for: index |
Search for: exchange |
Search for: chart |
Search for: sales |
Search for: Bulgaria |
Newsletter Daily 2008.11.12.pdf, 287 Kb
