Headlines
Zarneni Hrani Awaits EU Regulations to Launch Second Biofuel Project
Billboard Raises Stake in Instore Media to 100%
Holding Roads To Start Trading on the Official market
Bulgaria Expects RWE's Decision on N-Plant Project until Spring 2009
company of Hristo Kovachki Sole Bidder for Majority Stake in Municipal Insurance company
| Value | Daily Chng | YTD Chng | |
| SOFIX | 467.83 | -0.89% | -73.54% |
| BG 40 | 142.77 | 1.57% | -72.44% |
| BG REIT | 53.45 | -0.17% | -48.23% |
| BGTR 30 | 354.72 | 0.00% | -67.68% |
| Shares Turnover (BGN thnds) | 3 586.48 |
| Bonds Turnover (BGN thnds) | 3.30 |
| market Capitalisation (BGN mln) | 13 203.88 |
| market Capitalisation/GDP | 21% |
| Top Gainers | Ticker | Change |
| Balkan & Sea Properties REIT | 5H4 | + 12.73% |
| Zarneni Hrani Bulgaria AD | T43 | + 12.14% |
| Chimimport AD | 6C4 | + 7.89% |
| Top Losers | Ticker | Change |
| CBA Asset management | C81 | -20.00% |
| Balkan AD | 4BN | -19.98% |
| Holding Roads AD | 6H2 | -6.25% |
* Gainers: Among shares with turnover above BGN thnd 10;
Losers: Among shares with turnover above BGN thnd 4;
Trends
SOFIX (chart)
| P/E, ttm | Value | Daily Chng | YTD Chng | Turnover (BGN thnds) |
| 6.25 | 467.83 | -0.89% | -73.54% | 712 |
Overview
Week Ends in Mixed Sentiment
Stock indices opened in the red on Friday but closed mixed as the BG40 index rose by 1.57% to 142.77 and the BG TR30 index barely moved from its Thursday's position at 354.72. The SOFIX index kept slipping to lose 0.89% to 467.83.
One of the stocks from the blue-chip index that helped bring it lower was Holding Roads [6H2; -6.25%], which has been losing ground since the shares from its capital increase started trading earlier this week. The share slid another 6.25% to BGN 4.32 in a volume of BGN 73,440. Central Cooperative Bank AD [4CF; -6.24%] was also on the losing side, ending 6.24% lower at BGN 1.23 with stocks worth BGN 125,107 changing hands. The bank recently reported a 45% yearly drop in its nine-month net profit to BGN 10.25 mln as interest expenses rose faster than interest income.
Friday's biggest gainer was Balkan & Sea Properties REIT [5H4; +365.96%], one of the illiquid stocks, which skyrocketed by nearly 366% to BGN 24.23 in a volume of more than BGN 1.2 mln. The share last traded on July 29.
Corporate news
Zarneni Hrani Awaits EU Regulations to Launch Second Biofuel Project
Zarneni Hrani Bulgaria [T43] will take a decision on the implementation of its frozen project for a second biofuel plant depending on whether the European Commission makes it obligatory for mineral fuels to be mixed with biofuels, the company’s executive director Georgi Kostov told Investor.bg. If such a decision is taken and in 2009 the share of biofuel mixed into fuel is set at between 5% and 7%, Zarneni Hrani will implement the project, Kostov said. The company, which recently opened a biofuel plant with a yearly capacity of 100,000 tonnes of biofuel, earlier this year put on hold a project for a second unit due to unfavourable market conditions. Kostov also said the company has not so far revised the forecast for its financial performance despite the ongoing financial crisis.
Billboard Raises Stake in Instore Media to 100%
Billboard AD [5BP] has increased its stake in local company Instore Media OOD to 100% by buying 25% of its share capital, Billboard said in a filing. Instore Media is active in trading and production of advertising materials and design, among others.
Holding Roads To Start Trading on the Official market
Holding Roads [6H2] has submitted a notice to the Bulgarian Stock exchange for its shares to start trading on the bourse’s segment B of the official market, the company said. Its shares now trade on the stock exchange’s segment A of the unofficial market. Some of the stock exchange’s requirements regarding companies traded on the segment B of the official market are that the stock has traded for at least a year.
Economy and Politics
Bulgaria Expects RWE's Decision on N-Plant Project until Spring 2009
Bulgaria has extended the deadline for RWE until next spring to decide whether it will become a strategic investor in the country’s planned second nuclear power plant, deputy energy minister Yavor Kuyumdzhiev said. The deal with RWE was expected to be signed by the end of October, when the German company was picked as a strategic investor for 49% of the Belene N-plant but RWE has not said yet whether it will take part in the project. The country has enough funds to back the project on its own, Kuyumdzhiev added. The 2,000 megawatt nuclear power project is expected to cost about EUR 4.0 bn.
company of Hristo Kovachki Sole Bidder for Majority Stake in Municipal Insurance company
Bulgarian company LM Impex, owned by businessman Hristo Kovachki, is the sole bidder for a 65.55% stake in Municipal Insurance company, of which Kovachki already owns nearly 20%, media reported. LM Impex has offered to pay the minimum call price of BGN 9.6 mln. Besides LM Impex, Mining company and supermarket chain Magazini Evropa, also owned by Kovachki, and Slovenian insurer Triglav, bought documentation for the tender. The sellers of the stake are the Sofia municipality and two municipal companies.
Upcoming Events
Balkancar Zarya [4BU]
22.12.2008 Balkancar Zarya [4BU] to hold an extraordinary shareholders’ meeting. The meeting takes place at 1130h local time.
BG40 Stocks (table)
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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
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Newsletter Daily 2008.11.07.pdf, 283 Kb
