Chugunoleene Gains 11.76% This Week, Emka is BG40's Top Decliner

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Chugunoleene Gains 11.76% This Week, Emka is BG40's Top Decliner

Another boring week passed on the Bulgarian Stock Exchange, just as the market experts we interviewed on Monday had predicted.

In spite of the slow activity, there were some interesting corporate announcements coming out.
Turnovers were small and indexes were not making any steep declines or advances.

On Tuesday Sparky Jsc offered 300,000 shares (10% of its capital) to investors at prices between 45.70 and 55.50 leva/share. Just 25,316 (8.44%) of them were subscribed.

Shares were floated on Thursday. Since then 25 of them changed hands at an average of 60.44 leva. No transactions were made on the position today.

Shares issued in the capital increases of Central Cooperative Bank, Industrial Holding Bulgaria and Holding Varna A were also floated Tuesday.

Secondary trade with shares of Billboard also started Tuesday. The stock lost 1.48% to an average of 8.66 leva, after soaring 17.3% above IPO price (7.3 leva) on their first day of trade.

Expat Properties REIT and the new BenchMark funds – BenchMark Fund 4 Energetics and BenchMark Fund 5 Central and Eastern Europe - were also floated that day.

We must also note the large transactions on the position of Katex, the successful tender offer CCB made to minor shareholders in the Skopje-based Silex Bank, as well as the transfer of nearly 50% of Bulgarian-American Bank to Allied Irish Banks.

SOFIX stayed at 1413.24 points today. On a weekly basis, however, the blue chip index loses 0.6%.

BG40 closed at 405.38, which is a 0.7% decline for the day and -0.15% for the week.

BGREIT lost 0.15% to 101.43 points, which is nearly 1% below its February 15 level. BGTR30 lost 0.41% to 923.47 points.

15 stocks in BG40 advanced during the week (versus 22 last week).

The top performer within the brad indicator was Chugunoleen, which gained 11.76% to 27.94 leva. Next is Bulgarian holding company, which advances for the fifth week in a row. The market value of the holding grew 8.45% to 6.03 leva.

Toplivo ended the week at 22 leva, which is 3.33% above last Friday price.

The top decliner was Emka, which dropped 5.51% to 12 leva. Albena Invest Holding is the second worst performer, falling 4.99% to 17.53 leva.

The deadline for posting consolidated financial reports is next week.

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