Morning Note /

Weekly bulletin - 16 May - 20 May 2022

    All main indexes advanced last week despite the negative global sentiment and rising concerns about inflation and upcoming interest rate hikes. The leading local index SOFIX (618.69) increased by 3.2%, rebounding from the previous week loss, followed by the broad BGBX40 (146.38) and BGTR30 (734.92) with 2.8% and 2.4% rises respectively. BGREIT(181.64) increased more modestly, ending the week 0.6% higher. Total turnover remained unimpressive, almost 41% lower than the average from the beginning of the year. As expected, 18 out of 29 names in our watch list of companies finished on the green side, as Sirma Group Holding (SGH, BGN 0.73, +46.0%), First Investment Bank (FIB, BGN 2.22, +13.8%) and Bulgarian Stock Exchange (BSE, BGN 11.40, +12.9%) led the gainers. On the opposite side Sopharma Trading (SFT, BGN 4.40, -3.1%) and Speedy (SPD, BGN 112.00, -2.6%) led the negative list where 6 companies out of 29 weighed on the downside.