BSE's BG40 Index Loses 4.4% in Two Days

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BSE's BG40 Index Loses 4.4% in Two Days

The short but interesting work week ended with massive sell-offs of major stocks listed on the Bulgarian Stock Exchange (BSE). The sell-offs were sparked by the not so postive news on the performance of the companies during the first quarter of the year. The trade on BSE remained lacklustre throughout the day despite the inflow of corporate news.

BSE's trading turnover amounted to 2.56 mln leva today, while a total of 139 stocks were traded. A total of 55 of the traded companies ended the day higher. The value of the block deals and other registered trades stood at 569,000 leva.

BSE's all four indexes ended the day on negative territory following the unsatisfactory first quarter company reports. The SOFIX bluе-chip index slipped by 1.16% to 1,138.48 points, while the broader BG40 index shed 4.47% to 318.41 points. The BG REIT and BG TR30 indexes ended 0.25% and 1.19% lower at 95.69 and 779.56 points, respectively.

BGREIT was the only index to end the week with gains. The index advanced by 2.12% on a weekly basis.

The BG40 marked the highest loss on a weekly basis. The broader index has lost 4.42% since April 29 closing this week at 318.41 points. The SOFIX and BG TR30 lost 0.81% and 0.44% on a weekly basis, respectively.

The SOFIX shed 6.05% in the month of April, while the BG40, BGREIT and BG TR30 lost 7.83%, 2.12% and 3.71%, respectively, over the month.

A total of 22 of the stocks included in the calculation of the BG40 advanced on a weekly basis. Petrol was the biggest gainer this week. The stock of the company has appreciated by 14.79% to an average of 9.39 leva per share, since last Friday. Petrol booked 44.86 mln leva profit in the first quarter of 2008, compared to nearly 4 mln leva profit posted for the year-ago period, the non-consolidated report of the company shows.

Other strong performers this week included Industrial Holding Bulgaria (+7.68% to 7.71 leva per share) and Synergon Holding (+6.33% to 8.57 leva per share). The latter booked 1.37 mln leva non-consolidated profit for the first three months of 2008, compared to 1.8 mln leva profit netted a year earlier.

Chugunoleene was among BSE's biggest decliners this week. The stock price of the company went down by 20.54% to 23.64 leva per share. The company booked 743,000 leva loss in the first quarter of 2008, compared to 286,000 leva profit posted for the year-ago period.

Bulgarian River Shipping's stocks depreciated by 8.86% to an average of 4.94 leva per share this week after the company published an unsatisfactory first quarter report. The profit of the company shrunk from 1.33 mln leva in the first quarter of 2007 to 640,000 leva a year later.

Orgachim was also among BG40's biggest decliners this week. The stock of the company depreciated by 4.61% to an average of 364.37 leva per share this week. The paint and varnish maker booked 182,000 leva loss for the first quarter of 2008, compared to 2 mln leva profit netted for the year ago period.

See the table for details on the trade in the remaining BG40 stocks:

 

Stock symbolApr 25, 2008Apr 30, 2008Change
PET8.189.3914.79
IHLBL7.167.717.68
PETHL8.068.576.33
LOMSKO3.073.224.89
SFARM6.036.192.65
MONBAT24.8625.482.49
FIB7.227.382.22
TOPL19.0019.422.21
ELHIM4.834.932.07
MCH9.319.502.04
DEVIN5.005.102.0
SEVTO2.012.051.99
ELTOS12.813.021.72
CENHL5.375.461.68
CHIM 8.278.391.45
EURINS8.218.321.34
CORP82.0882.870.96
EUBG4.995.030.80
ATERA1.911.920.52
MOSTS103.98104.520.52
HIKA7.627.640.26
KAO11.4311.440.09
ELARG2.182.180.00
BACB65.1865.00-0.28
DOVUHL8.918.88-0.34
TCH5.435.41-0.37
ZAHZA8.378.33-0.48
ALB88.1487.64-0.57
BHC6.035.99-0.66
CCB4.944.89-1.01
ODES266.31263.46-1.07
FZLES172.40170.21-1.27
HVAR29.0028.42-2.00
OTZK40.5939.75-2.07
AROMA3.893.78-2.83
ALBHL15.3014.86-2.88
POLIM4.214.05-3.8
ORGH381.97364.37-4.61
BRP5.424.94-8.86
CHUG29.7523.64-20.54

Source: Bulgarian Stock Exchange

 

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