Stocks Plunge In Morning Trade

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Stocks Plunge In Morning Trade

Indexes are significantly down this morning amid sell-offs sparked by worrying news from international financial markets.

Dow Jones lost nearly 360 points last night, almost hitting a two-year low.

The blue chip SOFIX has lost 2.7% so far today to 1121.58 points and the broad BG40 declined 4.04% to 296.9.

Orgachim is to a large extent the reason for BG40's loss. The stock of the paints and lacquers manufacturer slid more than 8% to 271.1 leva.

Odessos Ship Repair Yard is currently 6.12% down from opening at 230 leva/share and Sopharma lost nearly 5% to 5.7 leva.

A sell-off on the position of Chimimport brought the average price down 4.79% to 8.73 leva.

Eurohold Bulgaria is also actively traded – more than 56,000 shares have changed hands so far today at an average of 5 leva each, or 4.29% down from opening.

The cashing affected infrastructural companies as well. Moststroy depreciated by 6.62% to 126.5 leva and Trace Group Hold lost nearly 7% to 120.64 leva.

The general meeting of shareholders in Holding Roads is taking place at the moment. Shareholders will vote a proposal to increase capital using own funds. The stock is currently down 2.69% to 936.70 leva.

BSE's turnover in the first 75 minutes of trade stood at 3.5 mln leva (1.7 mnln euros).

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