Morning Note /

Weekly bulletin - 5 September - 9 September 2022

    First Financial Brokerage House
    12 September 2022

    Inflation fears, the lift of interest rates by the ECB and shaky world markets weighted on all local indexes last week but SOFIX (605.20) slipped the most by losing 1% WoW. Overall liquidity remained far away from the average one YTD and the market was losing buying power under the negative sentiment and panic sell-offs. It is of note that BSE’s index committee announced last week the new rebalancing of the local indexes which also imposed selling pressure on several companies. For a second consecutive week we saw Sirma Group Holding (SGH, BGN 0.845, +5.0%) among the top 3 gainers and after a successful completion of EUR 28m deal in August, it was announced that the company will join SOFIX in the next few weeks.