SOFIX Hits Year Low on Wednesday

SOFIX Hits Year Low on Wednesday

There was bad news for BSE investors again on Wednesday. The state may help destroy whatever confidence has remained on the markets, analysts say.

Labor minister Totyu Mladenov said earlier today that "the assets of professional retirement funds will pass under the control of a newly founded state specialised fund, controlled by the National Social Security Institute." Even if Mladenov made a mistake (meaning that the installments (not the assets) of retirement funds will pass under the control of the new state fund) the fact that the cash flow towards private funds will end is no good news for investors.

Investors run away from BSE today which brought SOFIX to a year low. The blue chip index lost more than 2% to 354.45 points.

BG40 wiped out more than 1% to 112.25 points.

BGTR30 lost more than 2% to 283.55 points and BGREIT fell 0.88% to 41.51 points.

Total turnover was almost 2.52 mln.leva. 79 stocks were traded today, 22 closed on positive turf.

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