Morning Note /

Weekly bulletin - 11 July - 15 July 2022

    All major indexes recorded a negative week with the exception of BGREIT(188.16, +2.0%), following the global markets sentiment and ahead of a pivotal week for Europe, with а focus on the future of Russian gas supplies and first rate hike expected by the ECB. The leading local index SOFIX (606.89) and the broad BGBX40 (141.37) decreased both by 1.3%, followed by BGTR30 (734.40) with 0.7% fall. Only 4 out of 29 names in our list of selected companies finished on green territory as Bulgarian Real Estate Fund (BREF, BGN 2.52, +5.9%) and Stara Planina Hold (SPH, BGN 9.80, +3.2%) led the list of gainers. On the opposite side remained the majority of companies in our universe – 19 out of 29 names. The worst performers of the week were Alcomet (ALCM, BGN 6.95, -18.2%), Agria Group Holding (AGH, BGN 27.50, -8.0%) and Sopharma (SFA, BGN 4.36, -5.6%). Total turnover showed satisfactory performance and reached BGN 23.4m, exceeding the YTD average by 30%.