Home > Bulgaria general news, Bulgarian Economy > Oddly enough – Bulgarian indices end week higher

Oddly enough – Bulgarian indices end week higher

The Bulgarian Stock Exchange rounded off one in only a few of positive weeks since the start of the year, even though in a brittle turnover of less than BGN 1 million, the English online edition of the Dnevnik Daily informs.
SOFIX of the blue chips ticked up just over 2% to 264.71 points.
Dnevnik 20 of the biggest and most liquid stocks added 1.5% to 38.38 points.
Trade picked up on Thursday, when banker Tsvetelina Borislavova shed 4% of EIBank to raise capital for other projects. The deal had a price tag of BGN 30 million, just about the market’s average monthly turnover recently.
The BSE danced to the music on the global financial and economic stage, mostly to the macabre tones of Dow Jones, DAX and other renowned masters of the stock market art. The muffled voices of Bulgarian players sang about the latest round of financial reports, which left a bad taste in investors’ mouth as did non-consolidated figures.
“The shock in the real economy we saw in the fourth quarter is more than drastic. A raft of [Bulgaria’s] major sectors worked in extremely unfavorable market conditions, and most companies reported negative operating profitability,” commented Tihomir Kaundzhiev, financial analyst at investment brokerage Beta Corp.

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