The week which marked the end of October and the beginning of November, finished with growths for all four indices. Best presented sectoral BG REIT with a growth of 1.57 %, followed closely by price-weighted BG40 with 1.47 %, while stock veteran Sofix added nearly one percentage point. Increases noted indices' performance for the whole October as Sofix, BG 40 and BG TR30 increased by between 1.6 % and 1.8%. During the week, the leader in turnover with BGN 63 million was Bulgartabac, followed by CCB Real Estate Fund REIT with BGN 5.7 million and Chimsnab Bulgaria AD with BGN 3 million. On Friday were sold the last state shares in CEZ , as the state received BGN 115 million for both companies. Totally for 33 % state stakes in CEZ, EVN and Energo-Pro the proceeds were BGN 277 million. With the last sold state shares of CEZ completed the privatization of six electricity distribution companies (two for each of CEZ, EVN and Energo-Pro). The privatization of energy companies and major transactions with Bulgartabac led to an increase in turnover of BSE in October by 45 % YOY to BGN 315 million

NSI published data for business climate in the country - in September 2012 the total business climate indicator remained at the level of the previous month, as worsening in the economic situation is observed only in the service sector. The composite indicator "business climate" in September remains at the level of the previous month. The survey recorded some improvement in manufacturing activity in the last three months. Compared with August composite indicator "business climate in construction" increased by 4.1 percentage points due to more favorable evaluations of the construction entrepreneurs of the current business situation of enterprises. The composite indicator "business climate in retail trade" increased by 3.6 percentage points from the previous month due to improved assessments of retailers for present business situation of enterprises. In September, the composite indicator "business climate in service sector" fell by 7.6 percentage points compared to August, due to the more moderate managers' expectations about the business situation in the next six months.

Collective investment schemes managed by UBB Asset Management reported increases ranging from 0.14 % to 0.23 % as the leadership position was again occupied by UBB Patrimonium Land. Transactions concluded last week have intended to reach the set target weights for each of the positions in the portfolio....more »

Tihomir Nenov, risk manager