Morning Note /
Bulgaria

Weekly bulletin - 20 September - 24 September

    Contributors
    Mihail Dimitrov
    Martin Dimitrov
    First Financial Brokerage House
    27 September 2021

    SOFIX advanced to 564.03 (+1.4% WoW) on the ground of increased liquidity. Weekly turnover reached BGN 12.7m compared to the average one YTD of BGN 9m. Almost 50% of the weekly volume was concentrated in four companies – Eurohold, Sopharma, Telelink and Doverie, triggered by corporate news, buy-back and increased risk appetite. The weekly gainer Stara Planina (SPH, BGN 11.50, +36.9%) raised investors’ attention by reporting 36.7% increase of company sales for the first 8 months of 2021. Note, that the benchmark date for the performance of local pension funds portfolios is on Thursday this week and we might evidence bigger than usual volatility.