Market Overview (August 2nd –August 6th)  

The main Bulgarian index SOFIX increased by 1.33% this week, up to 580.27 points. The broad index BGBX40 decreased by 0.05% to 127.02 points. BGREIT increased this trading week to 164.22 points, up by 0.91%.

Corporate News                                                      

Speedy AD (SPDY) announced that it plans to pay out over BGN 28mln dividend, representing BNG 5.25 per share. If voted, this will be among the highest dividend payouts from Bulgarian public companies in recent years.

Bulgarian American Credit Bank (BACB) published financial results for Q2 2021. The net profit surged 32% to BGN 8,204mln compared to the same period last year. The result was driven predominantly by an increase in the interest income of 5.2% and simultaneously reduced interest expenses. The revenue from fees and commissions, which is not a significant portion of the total income, also grew by 18.7% compared to the same period the previous year.

Eurohold Bulgaria (EUBG) offered tender prices below the market prices for CEZ Distribution Bulgaria (CEZD) and CEZ Electro Bulgaria (CEZE). On Wednesday, 04.08.2021, the offered price for CEZ Distribution Bulgaria was BGN 276.88, 4.5% lower than the last closing price. This was followed by a tender offer on Thursday, 05.08.2021, for CEZ Electro Bulgaria was BGN 26 070, 6.9% below the last closing price.

Economic News                                                       

Bulgaria Consumer Confidence decreased by 11.3% to -27.4 in Q3 from the previous reading of -30.9 in Q2. The result was close to that expected -27.5. The benchmark interest rate in Bulgaria remained 0%.

Active COVID-19 cases in Bulgaria are on an increasing trend with a 7-day MA of 372 cases. The incidence of coronavirus is ca. 232 infections per day. The total number of fully vaccinated people so far is 1 034 184, which is 14.8% of the population in Bulgaria.

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