Seven Stocks in BG40 Lose More Than 50% In H1
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):