СЕДМИЧЕН БЮЛЕТИН НА СИС С НАЙ-ВАЖНИТЕ СЪБИТИЯ НА БЪЛГАРСКИЯ КАПИТАЛОВ ПАЗАР:
ANNUAL INFLATION RATE AT 12-YEAR HIGH IN BULGARIA
Market Overview (8th November– 12th November)
The main Bulgarian index SOFIX increased by 1.17% this week, up to 608.55 points. The broad index BGBX40 increased by 0.77% to 137.78 points. BGREIT increased this trading week to 165.47 points, up by 0.58%.
The holders of a total of 117 shares of CEZ Electro Bulgaria AD and 408,552 shares of CEZ Distribution Bulgaria AD have accepted the tender offer of the new majority shareholder Eastern Electric Company BV. Following the transfer, the company will increase its stake in CEZ Electro to just over 69% from the current 67% and will increase its stake in CEZ Distribution to over 88%.
Monbat AD (MONB) has released its financial statements for the first 9 months of the year. For the first nine months of 2021, the producer reports an increase in EBITDA by 27% YoY because of better volumes of sales. For the fourth quarter, the company expects a decrease in EBITDA by 7% respectively compared to the same periods in 2020 due to the increased energy prices. The battery manufacturer Monbat is working on innovative projects for the production of lithium-ion batteries, to reduce lead in traditional batteries and on an energy storage project.
Telelink Business Services Group AD declares its readiness to offer for sale on the BSE a majority stake of over 50% as of the beginning of 2022. The company will be looking for a strategic investor to accelerate its entry into new markets. Regarding the stated goal of the company in 2020 to offer up to 30% of the capital of the BSE, he commented that at the moment the selling shareholders see no grounds for a new tranche.
The annual inflation rate in Bulgaria advanced to 6% in October of 2021, the highest since February of 2009 and above 4.8% in September. Upward pressure mainly came from food & non-alcoholic beverages (5%); housing & utilities (9%); and transport (19.7%). Retail sales in Bulgaria rose 8.4% year-on-year in September of 2021. It was the fifth straight month of slowing retail activity growth as sales rose less for food, beverages & tobacco, and non-food products, namely other retail sales in non-specialised stores and others. Construction output in Bulgaria rose 1% over a year earlier in September of 2021.
Active COVID-19 cases in Bulgaria are on a decreasing trend with a 7-day MA of 3,504 cases. The active cases at the end of the week were 113,229. The total number of fully vaccinated people so far is 1,623 mln, which is 23.36% of the population in Bulgaria.
You can access the pdf file here.
The analyst (s) responsible for the preparation of this document shall ensure that: (1) they take all necessary care to accurately reflect the information contained in this document; (2) no part of the analyst’s remuneration is, has been or will be linked, directly or indirectly, to the recommendation or opinions expressed in this document.
Financial interest: Sofia International Securities may trade or own the financial instruments specified in this document. Sofia International Securities does not own more than 5% of the financial instruments in circulation, subject to analysis or comment in this document. The analyst (s) do not own any shares of the companies, unless explicitly mentioned.
Disclosure of information
Due care has been taken to ensure the accuracy of the facts cited, the reliability of the sources of information and the clear definition of the assumptions, predictions, forecasts and expected prices in this document. The information presented in this document is based on publicly available information, which is considered reliable, but for which no responsibility is taken for completeness and accuracy. Neither Sofia International Securities nor the company’s employees should be held responsible for the publicly available information used. The opinion expressed in this document may differ from the disclosed views in other departments and divisions of Sofia International Securities or from other employees. Additional information on this document is available upon request. The sources of information in the tables and graphs in this document are calculations by Sofia International Securities, unless otherwise stated.
Risks for investors
This document has been prepared and presented for the purpose of summary and informational purposes only and does not constitute a study within the meaning of Art. 13 of Commission Delegated Directive (EU) 2017/593 of 7 April 2016. The information in this document should not be considered as an offer to buy or sell financial instruments or an independent investment council within the meaning of Directive 2014/65 / EU of The European Parliament and the Council of 15 May 2014, Sofia International Securities AD has not assessed the appropriateness in relation to the financial instruments mentioned in this document. The investment opportunities discussed in this document may not be appropriate for certain investors depending on their investment objectives and time horizon or in the context of their overall financial condition. The risks associated with investing in the financial instruments mentioned in this document are not fully explained. The price or value of the investment may decrease or increase. Securities or investments can lead to losses for the investor. A previous achievement is not a guarantee of future performance. Changes in exchange rates may have an adverse effect on the value, price or return on investment in securities. Sofia International Securities AD assumes no responsibility for losses incurred in connection with investments made on the basis of information contained in this document.
The analyzes of Sofia International Securities are the exclusive property of the investment intermediary and any publication, distribution, reprinting and citation of content is possible only after the explicit written consent of the „Research and Analysis“ department of the company. It is not allowed to use the analyzes of the investment intermediary from a third party for commercial purposes.