Stock indices of BSE recorded a successful week. Leaders by increases were BG REIT and Sofix with 2.35 % and 1.60 %.  Leaders in appreciation among companies in SOFIX last week were Chimimport with 14.61 %, CCB - 13.07 % and Stara Planina Hold with 3.61 %. With the highest turnover during the week were shares of Advance TerraFund REIT with BGN 769 thousand, Eurohold Bulgaria with BGN 765 thousand and Energo-Pro Grid with BGN 732 thousand.

The main economic subject last week was the proposal to introduce a tax on interest from deposits in the newly adopted by the government Budget 2013. Deficit is expected to reach 1.3 %, it is planned pensions indexation of 9.3 %, an increase in the minimum pension to BGN 150, social pension is raised from BGN 100 to BGN 110 and the maximum from BGN 700 to BGN 770. The maximum social security income grow from BGN 2 000 to BGN 2 200 and the minimum wage from the year beginnig will rise from BGN 290 to BGN 310. The budget is calculated in the pessimistic case of GDP growth of 1.2 %, while MC expectes to reach 1.9 %.

The Consumer price index for September 2012 to August 2012 was 101.1 %, ie the monthly inflation was 1.1 %. Inflation from the beginning of the year (September 2012 to December 2011) was 3.7 % and the annual inflation rate for September 2012 compared to September 2011 was 4.9 %. The average inflation for the period October 2011 - September 2012 compared to the period October 2010 - September 2011 is 2.7 %.

In the period January - July 2012 Bulgaria's exports to the EU decreased by 0.6 % compared to the same period last year and amounted to BGN 13.8 billion. The main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium, which forms 71.4 % of exports to countries - EU members. In July 2012 exports to the EU increased by 0.1 % compared to the same month of the previous year and amounted to BGN 2.2 billion. Bulgaria's imports from the EU for the period January to July 2012 increased by 12.3 % compared to the same period of the previous year's and is BGN 17.1 billion, prices CIF.

Collective investment schemes managed by UBB Asset Management reported minimal changes that are were limited to one-tenth of a percent. 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