Market Overview ( September 13th – September 17th )

The main Bulgarian index SOFIX decreased by 1.18% this week, down to 556.43 points. The broad index BGBX40 increased by 0.02% to 129.40 points. BGREIT decreased this trading week to 161.11 points, down by 1.45%.

Corporate News                                                      

The board of directors decided that the main Bulgarian index SOFIX will be rebalanced on the 20th of September. Gradus AD, Albena AD, and Sirma Group Holding AD will be replaced with Sopharma Trading AD, Monbat AD, and Industrial Holding Bulgaria AD. The exit companies were also the top losers of the week.

Alcomet AD (ALCM) puts into operation BGN 13.5M aluminum profiles processing facility. The new equipment will enable the company to produce aluminum components for electric cars, Alcomet said in a bourse filing. This comes with signed a 12-year contract with car manufacturer BMW.

Korado Bulgaria AD (KBG) announced that it will pay out BGN 1.32mln dividend for the first half of 2021, representing BGN 0.10 per share. This represents an approximately 87% dividend payout ratio for H1 financial results and a 1.2% dividend yield.

Gradus AD (GR6) announced that it will pay out BGN 6.33mln dividend for the first half of 2021, representing BGN 0.026 per share. This represents an approximately 47% dividend payout ratio for H1 financial results and a 2% dividend yield.

Economic News                                                       

The annual inflation rate in Bulgaria quickened to 3.7 percent in August of 2021 from 3 percent in the previous month. Main upward pressure came from transport (15.3%), food and non-alcoholic beverages (3.6%); and housing and utilities (5%). Bulgaria recorded a trade deficit of BGN 569.80M in July of 2021 up from BGN -808.7M in June. Simultaneously, Bulgaria’s current account surplus widened to €336.5 million in July of 2021 from €88M.

Active COVID-19 cases in Bulgaria are on an increasing trend with a 7-day MA of 1,550 cases. The active cases at the end of the week were 38,980. The total number of fully vaccinated people so far is 1,249mln, which is 18.15% of the population in Bulgaria.

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