Brokers: Investors Will Continue To Be Cautious

Brokers: Investors Will Continue To Be Cautious talked to three market experts about their expectations of trade this week.

Branislav Ganozov, broker Favorit Jsc

I expect to see more investor negativism and cautiousness this week, which means small turnover and transacted volumes. We may see some movement after the floating of shares from the last IPOs - those of Enemona, Agria Jsc and Billboard.

Danuel Dimitrov, portfolio manager, Real Finance Asset Management Jsc

Bulgarian stock market will be following the trend of international markets this week. Since the beginning of the year markets in Europe, USA and Asia have recorded serious declines on worries of a possible recession in the US. In a situation like that foreign investors are generally withdrawing from purchases and the stock prices are falling. We already saw SOFIX losing more than 100 points.

Companies will start posting their financial statements this week. A convincing report would be of great help for the stock price on certain positions, but as a whole, the trend will be mirroring that of global markets.

Ognyan Dechev, broker, Popularna Kasa 95

I expect 2008 to be a very successful year for BSE. The correction we are witnessing right now will make investors more cautious in their selection of stocks. In the future they will be analyzing a company’s financial indicators and management more thoroughly before putting their money on a position. In addition, the positive boost from Bulgaria’s EU accession is still not completely exhausted.

In 2008 we are expecting about 60 initial and secondary public offerings. I believe that trade will pick up more pace during H2 if the government decides to sell minority stakes in some enterprises in exchange for compensation instruments. My bet is that SOFIX will add between 30 and 50 % this year.

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