News Real Estate

Sofia bourse indices start week in red, Bulgarian Real Estate Fund weighs down SOFIX

SOFIA (Bulgaria), August 22 (SeeNews) – All indices of the Bulgarian Stock Exchange (BSE) started the week in negative territory, mostly hurt by a 2.50% decline in blue-chip constituent Bulgarian Real Estate Fund [BUL:BREF] and a 3.38% retreat in steel radiator manufacturer Korado Bulgaria [BUL:KBG].

The blue-chip SOFIX index erased the most on Monday, or 0.61% to 610.75 points , bourse data showed.

BREF closed at 2.34 levs in a trading volume of 14,891 shares, while Korado Bulgaria finished trading at 7.15 levs on Monday.

The two companies’ losses also spelled a decline for the BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse. The BGBX40 ended the trading session 0.06% in decline, at 141.76 points, not sufficiently lifted by a 5.88% jump in diversified group Stara Planina Hold [BUL:SPH] to 9.00 levs.

On Monday, Stara Planina Hold affiliate Bulgarian Rose [BUL:ROZA] reported sales of 3.3 million levs ($1.7 million/1.7 million euro) for the first seven months of the year. Another unit of the diversified group, car battery manufacturer Elhim Iskra [BUL:ELHM], announced sales revenue of 3.97 million levs for July, beating its earlier forecast by 4.5%.

Looking at the BGTR30 index, under which companies with a free float of at least 10% have equal weight, the drop in BREF was compounded by a 1.84% slip in Sopharma Properties [BUL:SFI] to 8.00 levs as well as a 1.78% decline in parent company Sopharma [BUL:SFA] to 4.42 levs, with 22,217 shares traded.

The BGREIT, which tracks seven real estate investment trusts, depreciated 0.51% to 183.38 points.

Total turnover on the BSE’s main market slumped to just 315,423 levs on Monday from 4.3 million levs on Friday.

(1 euro = 1.95583 levs)

Source link