D. Dimitrov: Gas Crisis Affects Some Public Companies
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Stocks on the Bulgarian Stock Exchange (BSE) post modest price declines since the start of the year, which is coupled with very low trading volumes. I do not expect a change of this trend today. The indexes will post another decline but it may exceed 1-1.5% due to the thin trade, Daniel Dimitrov portfolio manager at Real Finance Asset Management, told Profit.bg.
Enemona will continue to attract investors' interest following yesterday's announcement that the company had won a 100 mln leva public contract, according to Dimitrov. Investors will continue to follow the development of the natural gas crisis, Dimitrov added.
Some public companies already encountered problems due to the termination of the natural gas supplies. Some of the companies are able to switch to alternative fuels but others will have to suspend their operations until gas supplies are resumed, Dimitrov said.
There were sell-offs on the position of several public companies due to the problems with the gas supplies. The quick solution to the Russia-Ukraine standoff is important for the economy of the region and when supplies resume the shares of these companies may be purchased back, according to Dimitrov.
Three of BSE's four indexes ended yesterday's session in negative territory. The SOFIX slipped by 1.01%, to 355.75 points, while the BG40 declined by 0.64%, to 107.99 points.
BSE's overal turnover came to 1.06 mln leva yesterday. A total of 75 issues were traded with 18 of the companies posting stock price gains.
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