The only stock in the broad index BG40 to end H1 with positive return is Petrol Jsc, Profit.bg found out.

Shares appreciated by nearly 59% between 21 December 2007 and 30 June 2008. This was, of course, to a large extent due to actions taken by the majority shareholder.

All other 39 stocks in BG40 ended the period on negative territory. Seven of them lots more than 50% - Fazerles, Euroins, Aroma, CCB, Bulgarian River Shipping, Orgachim and Lead and Zinc Complex.

The losses of Synergon Holding, Moststroy and Doverie United Holding are around 50%.

Elana Agricultural Land Opportunity REIT saw the smallest decline, of less than 1%. Lomsko Pivo and Corporate Commercial Bank also kept losses small with the help of the majority shareholders.

Another REIT – Advance Terrafund lost less than 10%, shares are down -6.4%.

The BG40 index, which includes the most liquid stocks on BSE, has shed some 41% during the period. On June 30 the index stood at 306.48 points.

High value stocks, such as Orgachim and Fazerles, were the biggest decliners during the period and were to a large extent responsible for BG40's slide.

More details are given in the following chart (prices are in BGN):

Company21Dec 200730 June 2008%Petrol5,288,3958,90%Elana REIT2,22,18-0,91%Lomsko Pivo3,63,46-3,89%Corporate Commercial Bank 96,0391,03-5,21%Advance Terrafund2,031,9-6,40%Bulgarian Holding Company6,555,71-12,82%Monbat15,1912,81-15,67%Odessos Ship Repair Yard309,94248,13-19,94%BACB79,6662,94-20,99%Industrial Holding Bulgaria10,017,89-21,18%TK Hold7,295,66-22,36%Eurohold Bulgaria6,825,12-24,93%Balgraska Roza Sevtopolis3,052,19-28,20%Devin 6,814,86-28,63%Stara Planina 7,625,31-30,31%M+S Hydraulic13,719,55-30,34%Sparky Eltos16,4211,33-31,00%Elhim Iskra6,864,72-31,20%Albena118,7881,15-31,68%Severcoop gamza4,132,8-32,20%Sopharma8,976,07-32,33%Chiguholeene32,6322-32,58%Albena Invest Holding20,2413,5-33,30%Industrial Holding Bulgaria11,347,06-37,74%Holding Varna A44,5127,5-38,22%Zaharni Zavodi 15,229,4-38,24%Kaolin17,3910,48-39,74%FIBank11,516,91-39,97%Toplivo29,1217,34-40,45%Chimimport15,518,99-42,04%Synergon Holding14,617,7-47,30%Moststroy262,68136,48-48,04%Doverie United Holding 14,277,26-49,12%Fazerles310,04154,19-50,27%Euroins16,78,29-50,36%Aroma 6,543,13-52,14%CCB10,625,02-52,73%Bulgarian River Shipping9,74,4-54,64%Orgachim644,08288-55,29%Lead and Zinc Complex91,1836,52-59,95%BG40518,06306,48-40,84%