Bulgaria picks RWE for strategic investor in EUR 4.0 bn nuclear power plant
Fitch Affirms rating of UniCredit Bulbank
FairPlay Properties REIT buys land plot for EUR 6.0 mln
Overview
Thin Volume, Thick Losses
The week ended with another slump of the BSE indices in a session with low volumes, which lacked news. SOFIX lost another 3.81% while BG40 dropped by 3.61%.
In a very thin volume, Petrol [5PET; -29.9%] was among the greatest losers. Although only 420 shares were exchanged, the oil distributor lost 30% of its market value. Among the other collapsing shares were Slanchev Bryag Holding [6SV; -20%], Industrial Capital Holding [4I8; - 17.85%] and Polimeri [51P; -17.21%] – all of them posted double-digit losses in a very slight turnover.
The most actively traded were the shares of CB Corporate Commercial Bank [6C9; +1.81%], First Investment Bank [5F4; -9.74%], Sopharma [3JR; -4.85%] and Albena [6AB; -8.07%].
market performance (table)
Top Gainers (table)
Top Losers (table)
Trends (Sofix) (chart, table)
BG40 Stocks (table)
Corporate news
Fitch Affirms rating of UniCredit Bulbank
rating agency Fitch has affirmed the support rating of Bulgaria’s largest bank in terms of assets, UniCredit Bulbak, at '1'. Fitch also affirmed the ratings of UniCredit’s subsidiaries in Croatia and Romania.The rating agency changed the outlook on Italy-based UniCredit S.p.A. to negative from positive and affirmed its long-term foreign currency IDR at 'A+'. At the same time, the agency has downgraded its individual rating to 'B/C' from 'B'. Its short-term foreign currency IDR, support rating and support rating floor are affirmed at 'F1', '1' and 'A-', respectively.
FairPlay Properties REIT buys land plot for EUR 6.0 mln
FairPlay Properties REIT [6F3] has bought a plot of land in Bulgaria’s second largest city of Plovdiv for EUR 6.0 mln, the company said. The 22,000 sq. m. plot is suitable for the building of a retail, office or residential development with built-up area of up to 100,000 sq.m.
Economy and Politics
Bulgaria picks RWE for strategic investor in EUR 4.0 bn nuclear power plant
Bulgaria picked Germany'sRWE as strategic investor with a 49% stake in its planned Belene nuclear power plant, which is expected to cost EUR 4.0 bn, Economy Minister Petar Dimitrov said on Friday. The company is ready to invest up to EUR 1.275 bn of its own capital in the project company and has offered to pay a premium of EUR 550 mln. RWE has also shown readiness to lend EUR 300 mln until the stateowned power utility secures all financing needed for the project. RWE competed with Belgium's Electrabel for the stake in the 2,000-megawatt nuclear power plant project. Construction of the nuclear power plant, to be built by Russia’s Atomstroyexport, France's Areva and Germany's Siemens, was officially launched last month.
Upcoming Events
CB Economic and Investment Bank [5EC]
Shareholders in CB Economic and Investment Bank [5EC] will vote on a proposed change of the bank’s name to CIBANK Plc. at an extraordinary shareholders’ meeting on November 11. It will take place in Sofia at 1600 local time.
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Newsletter Daily 2008.10.03.pdf, 50 Kb
