A very interesting week for the capital market ended today. We saw a lot of optimism and a consolidation of indexes in the past few days.
This is the second week in a row that BSE indexes end higher. SOFIX closed at 1250.12 points (-0.15%) but 2.15% up from May 17. BG40 added 4.65% on a weekly basis to 348.42 points, although falling a slight 0.02% today.
BGREIT climbed 2.47% this week to 96.57 points and BGTR30 advanced 3.91% to 842.3 points.
Daily turnover stays low, at 3.73 mln leva (1.9 mln euros). 53 out of 109 active positions advanced. The value of block and other agreed transactions stood at 2.15 mln leva.
Advancers outnumbered decliners within BG40. 31 companies in the broad index closed the week with gains.
This week's surprise was Polimeri. The Financial Supervision Commission did not approve the company's capital increase prospectus. After this news emerged, shares actually started to appreciate and managed to rebound the losses accumulated since February. In spite of ending on negative territory today, the stock is still 27.23% up on a weekly basis to 5.28 leva apiece.
Moststroy was up almost all week reaching 160.61 leva on Friday, which is 9.5% up from last week. Trade on the position may have been influenced by the fact that the Government recently expressed determination to complete important infrastructural projects. Brussels, on the other hand, announced plans to impose stricter conditions for funding within the community.
Petrol is reaching new highest levels. Shares added 8.22% to 10.79 leva. FIBank shares rose 2.25% to 7.27 leva.
Four companies suffered losses larger than 1% - those are Elana REIT (-2.25% to 2,17 leva), Albena Invest Holding (-1.87% to 15.18 leva), Devin (-1.41% to 4.9 leva) and Euroins (-1.32% to 8.97 leva).
More details on stock prices within BG40 are given in the following table:
|Stock Symbol||17 May 2008||23 May 2008||Change %|
Source: Bulgarian Stock Exchange
We remind that the deadline for release of consolidated reports for Q1 ends next week.