Brokers: No Surprises Expected This Week

Brokers: No Surprises Expected This Week

Each Monday talks to three market experts about the possible development of trade on BSE. Here is what they told us today:

Severin Vertigov, portfolio manager, BenchMark Asset Management

There are no significant corporate events scheduled this week. The floating of shares issued in the capital increase of Monbat Jsc and Emka Jsc may be of interest to investors.

Taking into consideration the low liquidity at the moment, both issues may be subject to pressure in the first sessions after their listing.

As a whole I do not expect any major changes on BSE, indexes will probably close around the same levels as last Friday.

Branislav Ganozov, broker, Favorit Investment Intermediary

I expect activity and turnovers on BSE to go further down this week, as August is usually a slow period.

We must note that as SOFIX has hit a year-low, we are staring to see some support from buyers.

The increased volatility on international capital markets will continue to influence the Bulgarian markets as well.

Albena Trifonova, broker, Bul Trend Brokerage

I do not expect any important corporate news as the annual meetings of shareholders were already held and most H1 reports have been submitted.

Investors will be expecting the consolidated reports, which must come out by end of August.

Traders will be examining the H1 reports, looking for signs to help them predict the results for the next two quarters.

Some of the larger companies that have not yet published H1 reports are Zaharni Zavodi, Devin and Chugunoleene.

Tuesday is the final date for trade in shares of Balkantourist Elit (the former privatization fund Multigroup Elit) allowing investors to participation in the company's capital increase. The management has decided to hike capital by 35.6 mln shares at a par value and issuing price of 1 lev.

Investors showed no interest in the rights when they were traded on BSE – just 34 rights changed hands in two transactions. The low issuing value (at market price of 3-4 leva) brought to a 66% decline in the holding's stock last month.

Sopharma Jsc will announce monthly revenue figures on Tuesday. Investors will be looking forward to the information after the company disappointed then with the H1 report.

This article is informational. It expresses the personal opinions of the people quoted. This is not a recommendation for buying/selling stock.

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