Brokers: The Market Nears Key Levels

Brokers: The Market Nears Key Levels

What to expect from trade on the Bulgarian Stock Exchange this week? This is the question we asked three market participants and here is what they told us:

Geno Tonev, investment consultant, Ug Market Fund Management

I do not expect a significant change in investors' behavior this week. Trade will be highly volatile and will be influenced by the businesses' consolidated reports.

Some companies posted results, which failed to meet the expectations. At the same time, we can say that the market is nearing key levels and a swing in either direction will determine the trend this summer.

The summer, on the other hand, is traditionally a period, in which no major news is expected, with the exception of an anticipated report on Bulgaria's progress on chronic problems.

Irina Christova, broker, FK Ever

I believe we will see another week of fluctuations for local indexes.

Investors are still acting too cautious and nervous and I do not expect the formation of a certain trend.

Market participants will be mainly interested in the consolidated reports. International news will be in the second position.

Nikola Tsokev, broker, EFG Securities Bulgaria

I expect the upward movement to continue in view of the larger traded volumes and the positive trend on the international markets.

The rising turnovers and the activity of large investment intermediaries are a sign that some Bulgarian and foreign institutional investors are pouring large amounts in the capital market.

However, the blue chip index SOFIX may suffer a serious loss on Monday, as shares in BACB, Industrial Holding Bulgaria, Monbat and Sopharma, which made huge gains on Friday may be unable to maintain the reached levels.

At the same time, I expect the broad BGTR30 to advance this week, starting Monday. The consolidated reports (both those published Friday and those yet to be released) will also have an impact.

This article is analytical and is not a recommendation for buying/selling stock.

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