BULGARIAN IMPORTS AND EXPORTS SURGE TO A FRESH ALL-TIME HIGH

Market Overview (10^th January – 14^th January)

The main Bulgarian index SOFIX decreased by 0.54% this week, up to 643.66 points. The broad index BGBX40 increased by 0.14% to 145.18 points. BGREIT increased this trading week to 167.33 points, up by 3.93%.

Corporate News       

Alterco AD (A4L) reports a 51% annual growth of consolidated annual revenues from sales of devices (including related services) to BGN 59.5 million for 2021. Revenues from sales of home automation devices under the Shelly brand increased by 62% to BGN 55.9 million, the company said. Revenues from sales of MyKi tracking devices decreased by 21%, mainly as a result of anti-epidemic measures. Sales growth for the last three months of 2021 is the second weakest for the individual quarters of the year. Growth was lower only in the third quarter – 21% on an annual basis.

The Bulgarian Stock Exchange (BSE) and the Athens Stock Exchange (ATHEX Group) have signed a framework agreement for admission to trading, clearing and settlement of Bulgarian derivatives. The scope of the agreement includes the introduction of futures on selected shares traded on the BSE, and futures on the main index of the Exchange – SOFIX, according to the BSE.

Economic News                                                       

• Bulgaria’s trade deficit widened to BGN 1355.8 million in November of 2021 from BGN 814.4 million in the corresponding month of the previous year. It was the largest trade gap since December of 2008. Imports rose by 32% to an all-time high of BGN 7551.9 million. Meanwhile, exports surged 26.3 percent year-on-year to a record high of BGN 6196.1 million.

Active COVID-19 cases in Bulgaria are on an increasing trend with a 7-day MA of 5,741 cases. The active cases at the end of the week were 151,477. The total number of fully vaccinated people so far is 1,962mln, which is 28,3% of the population in Bulgaria.

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