70% of BG40 Companies Decline This Week

It was a nervous ending of the week on the local stock market BSE, and this is not strange. In the past few days we heard numerous comments of the “overrating of BSE”, some of these came from officials from the Financial Supervision Commission, an institution which is not supposed to be influencing the trade process by the way. So the negative ending of the week comes as no surprise.

The positive trend last week was nowhere to be found during the past five days. All four indexes declined today. SOFIX, BG40 and BGTR30 declined on a weekly basis as well. BGREIT is the only advancing index for the week – in spite of the 0.27% decline today, the branch indicator was still 1.58% above its October 26 level.

The biggest decliner this week was BG40, which lost 4.44% on a weekly basis. SOFIX shed 1.7%, and BGTR30 0.96%.

Just 12 companies, or 30% of BG40 issues increased their market capitalization this week. The biggest winner was Industrial Capital Holding, which added 12.1% to 11.86 leva.

On Tuesday the company released its Jan – Sept financial report, showing net non-consolidated profit grew by 391,000 leva to 3.337 mln leva (1.706 mln euros) y/y.

Petrol added 3.96% to an average of 4.72 leva on a good Jan – Sept report, revealing profit grew 3.5 times to 28.98 mln leva (14.817 mln euros).

Sopharma gained 3.48% to an average of 9.21 leva, which is an absolute record on the position. The pharmaceutical company's winning spree started October 25 and has been going on all week long. Non-consolidated profit rose 37% to 25.98 mln leva (13.283 mln euros) y/y.

The week ended well for Stara Planina Hold (2.38%), Advance Terrafund REIT (1.86%), Doverie United Holding (1.59%), Albena Invest Holding (1.19%), Holding Varna A (1.1%) etc.

The other 28 companies did not do that well. The biggest decliner was Polimeri. After a not very convincing report, the stock price dropped 9.91% to 12.45 leva.

Emka lost 8.14% to an average of 18.16 leva. The latest report shows pre-tax profit declined from 3.346 mln leva (1.710 mln euros) to 2.835 mln leva (1.449 mln euros).

Toplivo lost 7.97% on a weekly basis to an average of 32.8 leva, and Bulgarian Rose Sevtopolis dropped 6.5% to an average of 3.74 leva.

Other poor performers were Decotex (-5.41%), Chugunoleene (-5.38%), Orgchim (-5.23%), Fazerles (5.15%), Odessos Ship Repair Yard (-5.07%) etc.

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