Neochim's Support Proves Insufficient as SOFIX Closes Down

Neochim's Support Proves Insufficient as SOFIX Closes Down

The SOFIX and BG40 indexes of the Bulgarian Stock Exchange (BSE) ended today's session lower, despite trading on positive territory most of the day. The SOFIX blue-chip index slipped by 0.06% to 1139.23 points. The broader BG40 index slid by 0.18% to 328.36 points. The BG REIT and BG TR30 indexes ended the day with gains. The BGRET index advanced by 0.04% to 93.63 points, while the BG TR30 index of best performers in total return gained 1.16%, closing at 775.31 points.

BSE's total trading turnover amounted to over 6 mln leva today. A total of 105 stocks were traded on the day, while only 35 of them ended the session with gains. The value of the block deals and the other registered trades stood at 2.53 mln leva.

Trade in fuel distributor Petrol's stock accounted for the bulk of BSE's turnover today. The turnover on the position amounted to nearly 2.1 mn leva, while the average price of the shares traded today stood at 7.37 leva apiece. Petrol and Lukoil have reached an out-of-court settlement, it emerged today. Petrol will sell assets for 237 mln euros to Lukoil as part of the agreement.

Neochims' rally today proved insufficient to help the SOFIX index. The stock of the company appreciated by 16.75% to an average of 68.16 leva per share. The rally was sparked by the positive news in the company's first quarter report published earlier today. A total of 2,896 shares in the company traded hands today. Neochim's gross profit jumped 3.5-fold to 22.3 mln leva, or 8.4 leva per share, in the first quarter of 2008. The profit of the company totaled 6.336 mln leva, or 1.58 leva per share, for the corresponding period of 2007.

Euroins' stock appreciated by 3.17% to an average of 8.47 leva per share. A total of 5,847 shares in the company traded hands today. Eurohold Bulgaria ended the session lower. The stock of the company shed 1.2% of its value closing at an average of 4.92 leva per share.

Sparky Eltos' stock ended the day on positive turf. The stock price of the company went up by 2.25% to an average of 13.17 leva. Only 800 shares in the company traded hands on the day.

Kaolin's stock price continued to slip today after the unsatisfactory first quarter results of the company published yesterday. The stock depreciated by 4.73% to an average of 11.48 leva per share. This was also the biggest decline recorded among the SOFIX members today.

A total of 1,069 shares in Lead & Zinc Complex traded hands on the day. The stock of the company ended the day 2.12% lower to 42.12 leva per share.

Zarneni Hrani was also actively traded. The trading volume on the position reached 230,938 shares, while the price of the stock remained unchanged at 2.1 leva per share.

Advance Terrafind REIT, Bulgarian Real Estate Fund REIT Elana Agricultural Land Opportunity Fund REIT and Aktiv Properties REIT were also actively traded today.

Petrol, Eurohold Bulgaria and Kaolin were BSE's most liquid stocks on the day, data show. Petrol, Zarneni Hrani Bulgaria and Advance Terrafund REIT led the way in terms of trading volumes.

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