Nearly Half Blue Chips Shed More Than 50% Since SOFIX’s October Peak

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The SOFIX blue-chip index of the Bulgarian Stock Exchange (BSE) has lost 44.04% since its peak on October 15, 2007.

Almost half of its 19 constituents, nine to be precise, have shed more than 50% of their market value since then, a check up conducted by Profit.bg shows. These are: Lead & Zinc Complex, Orgachim, Central Cooperative Bank, Industrial Holding Bulgaria, Toplivo, Kaolin, Euroins, Chimimport and First Investment Bank.

The index closed under the 1,100-point mark, at 1,092,49 points on Friday, which was its lowest level since November 17, 2006.

Lead & Zinc Complex is the biggest decliner among the blue chips. The stock of the company lost 74.82% of its value in the period between SOFIX’s peak and last Friday.

The second biggest loser is Orgachim. The stock of the company depreciated by 69.33% in the period. Central Cooperative Bank and Industrial Holding Bulgaria followed with 64.47% and 58.82% declines, respectively

gricultural Land Opportunity Fund REIT posted the smallest decline since SOFIX’s last peak - 3.13%. Corporate Commercial Bank followed with a 14.93-percent decline. It is also the bank with the smallest decline among the lenders included in the calculation of the index.

Two other banks are among the nine companies that lost over 50% of their market value since SOFIX’s peak in October.

The check up also shows that there is no strong correlation between the Р/E ratios calculated for the last year and the most declining stocks.

Chimimport has the lowest Р/E ratio of 8.54 among the blue chips in the last year. Nevertheless, the stock of the company has depreciated by 50.95% since SOFIX’s last all-time high.

Holding Roads has the highest P/E ratio of 38.7%, BSE data show. The stock of the company is the fifth less declining with a 20.8-percent drop in the period.

CompanyChange %Р/ЕROE %
Lead & Zinc Complex-74,8225,1114,63
Orgachim-69,3326,4911,39
Central Cooperative Bank-64,4718,32-
Industrial Holding Bulgaria-58,8221,82*9,66*
Toplivo-52,6911,11*7,84
Kaolin-52,1616,91*14,5*
Euroins-51,1714,62-
Chimimport-50,958,54*32,01*
FIBank-50,1213,81-
M+S Hydraulic-46,9825,1415,78
Albena-46,615,03*7,41*
Sparky Eltos-44,63--
Sopharma-40,6323,3*13,76*
BACB-23,6714,55*40,31*
Monbat-23,5819,62*9,11*
Holding Roads-20,8138,7*30,54*
Neochim-19,569,51*28,8*
Corporate Commercial Bank-14,9323,51-
Elana REIT-3,1315,4110,55
SOFIX-44,0415,47 

 

 

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