SOFIX reported weekly decline of 0.7 percent and a monthly of 0.08% to 327.44 points. Since the beginning of 2012, the increase of the index is only 1.65%. Although eight of the 15 companies in the index ended the week in the positive territory, the 6 losers were enough to drag him down. Only four of the companies have 58% of the weight of SOFIX, these are Advance Terrafund, Bulgartabac, Sopharma and KTB. The decline of 5.14% of the shares of Bulgartabac to 72 lev per share was the main driving force for the index. Sopharma’s stocks declined 1.6% to 2.155 leva per share, while KTB shares declined 0.05% to 84.45 leva. Advance TerraFund remained unchanged. Leader in appreciation among the 15 companies in the index was M + S Hydraulic AD adding 6% to 6.899 leva per share. With the highest turnover among stocks in the week were Chimimport with 2.08 million lev in a single transaction with 3 million shares. On the second place with 1.98 million leva turnover was BTC and on the third place with 1.2 million leva Slunce Stara Zagora Tabac AD. BTC shares lost 8% of its value in the last week reaching 2.58 leva per share.

On Wednesday, the FSC decided to impose a temporary ban of the tender offer for the shares of the telecom. Advance TerraFund announced that the company has bought 3,001 acres and sold 1,675 acres in November. During the week it became clear that ZUPF Allianz Bulgaria has increased its stake in Stara Planina Hold to more than 5% of the capital of the holding company. Index BGREIT reported a decline of 1.21 percent to 79.05 points for the last week. For the month the decline is 0.24%, but from the begging of the year the index is up 66%. BGTR30 advanced 0.16% over the week and fell by 0.36% for the month. For the past year, the increase is 2.3%. BG40 lost 0.86% over the five days of the week and on a monthly basis recorded an increase of 1.77%. For the last 12 months it is up 14.24%, distorted by the share of high unit value, such as Sofia and Blagoevgrad-BT-BT.

Collective investment schemes managed by UBB Asset Management reported growth in its presentation - UBB Premium Equity and UBB Balanced Fund rose by 1.24% and 1.13% respectively. UBB Platinum Bond index rose 0.35 percent, while UBB Patrimoium Land remained almost unchanged.  Transactions concluded last week have intended to reach the set target weights for each of the positions in the portfolio....more »

Alexander Madjirov, portfolio manager