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IHB, Doverie lead Sofia bourse decliners after dropping out of SOFIX

Author Mario Tanev
IHB, Doverie lead Sofia bourse decliners after dropping out of SOFIX hxdbzxy/

SOFIA (Bulgaria), September 12 (SeeNews) - Diversified groups Industrial Holding Bulgaria (IHB) [BUL:4ID] and Doverie United Holding [BUL:5DOV] were the biggest blue-chip decliners on the Bulgarian Stock Exchange on Wednesday, after the bourse operator announced late on Tuesday that the two companies will be excluded from the SOFIX index as of September 25.

IHB closed 4.62% lower at 0.93 levs, while Doverie United Holding lost 3.77% to 1.53 levs.

IHB and Doverie United Holding will be replaced in SOFIX's composition by hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and financial leasing company Elana Agrocredit [BUL:0EA].

Following the decline in share price of the two industrial groups, the SOFIX index ended its two-day winning streak, decreasing 0.09% to 631.44 points on Wednesday.

Car battery maker Monbat [BUL:5MB] continued its strong performance this week, gaining 3.25% to 7.95 levs on Wednesday, after a 2.67% rise on Tuesday.

The wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, managed to close the session in green, gaining a slim 0.01% to 121.86 points, despite a 9.79% drop in share price of Aktiv Properties REIT [BUL:5AX], which will be excluded from the index on September 25.

The BGREIT index, which tracks the performance of real estate investment trusts, edged up 0.06% to 117.13 points.

The BG TotalReturn30 index, in which companies with a free float of at least 10% have equal weight, added 0.02% to 520.58 points.

Total trading turnover decreased to 1.78 million levs ($1.1 million/910,100 euro) on Wednesday from 2.42 million levs on Tuesday.

Trade in blue-chip lender Central Cooperative Bank [BUl:4CF] formed over half of the turnover on Wednesday, as 539,131 shares changed hands for just over 900,000 levs.

(1 euro = 1.95583 levs)