Morning Note /

Weekly bulletin - 03 May - 05 May 2022

    All main indexes recorded negative result last short week, reflecting investors' fears about tightening financial conditions in the US and the slowdown of the global economy. SOFIX (605.42) decreased 2.2%, followed by BGBX40 (142.87) and BGTR30 (720.25) with 1.8% and 1.5% falls, respectively. BGREIT(180.52) was an exception and closed slightly on green pushed by Advance Terrafund (ATER, BGN 3.55, +1.1%) as investors continued to seek inflation-proof shares. 16 out of 29 names in our watchlist finished on red territory as Doverie United holding (DUH, BGN 6.40), Neochim (NEOH, BGN 50.00) and Eurohold Bulgaria (EUBG, BGN 2.20) led the loosers by 10.9%, 8.3% and 7.6% respectively. On the opposite side, the gainers were led by Industrial Capital Holding (HIKA, BGN 3.08, +5.8%) and Bulgarian Stock Exchange (BSE, BGN 10.10, +3.0%). The turnover remained weak, far below the weekly average YTD (-82%) as the negative outcome was exacerbated by the decreased trading days in the week.