Headlines
Technology and Innovation Corporation Saedinenie plans bourse listing of tourism company
Advance Terrafund raises BGN 78 mln in cap hike
Bulgaria's Business sentiment index remains unchanged on the month in September
Bulgarian Parliament approves a first reading of a draft law for changes in the pension system
Bulgaria approves spending of up to BGN 200 mln for frozen SAPARD programme
Overview
Most stocks fall, BGREIT edges up
Bulgarian stock indices ended the week in the red amid losses in Europe and Asia as negotiations on the USD 700 bn bailout plan stalled. Another bad news that contributed to the falls was Washington Mutual's failure - the biggest one in the U.S.history.
The SOFIX and the TR30 indices started the session with light gains but only the BGTR30 index managed to close a little higher. The blue-chip closed at a value which was last seen in early 2006.
Among the most traded on Friday were Elana Agricultural Land Opportunity Fund REIT [4EC], Polimeri AD [515] and Zarneni Hrani Bulgaria [T43]. Nearly 202,000 shares in Polimeri and close to 131,000 stocks of the REIT changed hands.
| Value | Daily Chng | YTD Chng | |
| SOFIX | 820.36 | -3.34% | -47.00% |
| BG 40 | 204.13 | -0.48% | -54.20% |
| BG REIT | 81.08 | 0.16% | -13.50% |
| BGTR 30 | 543.61 | -2.36% | -25.20% |
| Shares Turnover (BGN thnds) | 3 251.04 |
| Bonds Turnover (BGN thnds) | 387.36 |
| market Capitalisation (BGN mln) | 16 787.75 |
| market Capitalisation/GDP | 26% |
Top Gainers
| Ticker | Change | |
| Odessos Shiprepair Yard AD | 5ODE | + 4.74% |
| Billboard AD | 5BP | + 1.98% |
| Industrial Holding Bulgaria AD | 4ID | + 0.76% |
Top Losers
| Ticker | Change | |
| Insurance company Euro Ins | 5IC | -17.80% |
| Bulgarian American credit Bank | 5BN | -14.89% |
| Specialized Business Systems | 6SP | -10.98% |
* 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) |
| 10.59 | 820.36 | -3.34% | -47.00% | 2 075 |
BG40 Stocks (table)
Corporate news
Technology and Innovation Corporation Saedinenie plans bourse listing of tourism company
Technology and Innovation Corporation Saedinenie [5T3] plans to list its tourism company Orpheus Club Wellness on the Sofia stock exchange, Saedinenie said. Orpheus Club Wellness will offer to investors 4.0 million shares with nominal value of BGN 1.0 each.
Advance Terrafund raises BGN 78 mln in cap hike
Advance Terrafund [6A6] raised BGN 78 mln through a capital hike, the company said. Following the increase, its nominal capital will rise to about BGN 85 mln. Foreign investors have subscribed for 48.5% of the new shares. The REIT will use the money to raise its farm land portfolio to 450,000 decares by the end of 2009 from 233,000 decares in June.
Economy and Politics
Bulgaria's Business sentiment index remains unchanged on the month in September
Bulgaria's Business sentiment index remained unchanged on the month in September after it fell in three consecutive months, the National Statistical Institute [NSI] said on Friday. The industry subindex for September rose 1.8 points from the previous month, the construction sub-index lost 4.9 points and the sub-index in the retail sector dropped by 3.1 points. However, the Business sentiment index remained well above the long-term average, NSI said.
Bulgarian Parliament approves a first reading of a draft law for changes in the pension system
Bulgaria’s Parliament approved a first reading of a draft law for setting up a state fund to guarantee for the stability of the country’s pension system. The fund will accumulate 50% of the privatization revenue and 25% of the budget surplus for each year, as well as concession revenue.
Bulgaria approves spending of up to BGN 200 mln for frozen SAPARD programme
Bulgaria’s cabinet said it has approved spending of up to BGN 200 mln for payments to farmers under the European Union’s SAPARD pre-accession programme, which were frozen earlier this year because of irregularities. The bloc has frozen close to EUR 500 mln in aid to Bulgaria, including payments under the pre-accession ISPA and PHARE programmes.
Upcoming Events
Shares from the cap hike of Momina Krepost to start trading
Shares from the capital increase of Momina Krepost AD [5MR] start trading on September 30. The company increased its share capital six times to BGN 1.7 mln via capitalisation of reserves.
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