Strong Week for Banks, Holding Companies on BSE
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Following the declines in the previous week the indexes of the Bulgarian Stock Exchange (BSE) ended this week in positive territory.
The event of the week undobtedly is the the transfer of 30% of the capital of Corporate Commercial Bank (KTB) to Bulgarian Acquisition Company II. The latter co-owns the bank with the State General Reserve Fund of the Sultanate of Oman (SGRF). The package was transferred at a price of 102.97 leva per share, or a total of 185.35 mln leva.
The changes in the BG40 index came into effect as of Monday. The board of directors of BSE decided to remove Polimeri, TK-Hold, Bulgarian Holding Company, Favorit Hold and Aroma. They were replaced with Albena, Etropal, Devin, Energetics & Energy Savings Fund - FEEI SPV and Benchmark Fund Estates.
Intersky's issue was listed on BSE on Wednesday. The price of the stock is set at 3.10 leva. The issue amounts to 8.37 mln leva divided in as many shares with 1 leva par value each. A decision for the free trade of the stock is yet to be taken.
SOFIX (+0.26%, to 284.62 points) was the only advancer on the day. Decliners included BG40 (-0.37%, to 87.25 points), BG REIT (-0.51%, to 38.73 points) and BG TR30 (-0.21%, to 213.70 points).
BSE's daily turnover came to 6.62 mln leva. The Unofficial bond market accounted for 4.5 mln leva of the figure. The value of the over-the-counter trades exceeded 300,000 leva as at 3:00 p.m. A total of 97 issues were traded on the day with 50 of the companies posting stock price gains.
The weekly change is as follows: SOFIX (+5.7%), BG40 (+0.6%), BG REIT (+0.39%) и BG TR30 (+8.57%).
Three of the indexes are up in March. SOFIX gained 7.52%, BG40 advanced by 1.52%, while BG TR30 is up 10.62%. BG REIT is the only decliner so far this month slipping by 3.32%.
Holding companies, banks, mining companies and infrastructure companies were the strongest performers within BG40 this week. A total of 31 of the companies included in the calculation of the index posted average stock price gains this week.
Chimimport was the most advancing stock over the week. The average stock price of the company went up by 41.67% on a weekly basis. First Investment Bank followed with a 36-percent gain, to 1.7 leva. The average price of the stock of Albena Invest Holding went up by 20% from 2.78 leva to 3.33 leva per share.
Optimism failed to catch up with nine of BG40's companies. KTB was the biggest loser this week (-20.95%)The stock ended today's session at an average price of 58.5 leva per share.
BenchMark Fund Estates' stock depreciated by 13.33%, to an average of 0.39 leva per share, in the March 20 - 27. Industrial Capital Holding skidded nearly 10% lower, from 1.99 leva to 1.8 leva per share.
See the table for more details on the performance of BG40's stocks over the week:
Data: BSE
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