SOFIX reported weekly gain of 1.23 %, which is the seventh consecutive week of green colour and reached elevation of 324.89 points is the highest for 2012. Leared by turnover among companies in SOFIX was Sopharma with BGN1.03 million. Quite far back with a turnover of BGN 170 thousand remained Advance Terrafund REIT and Monbat. BG 40 and BG TR30 also delighted investors, while BG REIT declined by 1.41 % from its position. Of interest enjoyed and registered compensatory bills (closing price on Friday - 0.806 for 1 lev lev denomination), it became clear the reason for the rise in recent months - during the week of the MAF was the announced tender for sale of 154 thousand decares land for PKB. The stock exchanges around the world have reported small decreases. The published minutes of the last meeting of the Monetary Policy Committee of the U.S. Federal Reserve showed that the Fed is likely very soon to help the U.S. economy with additional stimulus.

From the document, published three weeks after the meeting, it became clear that most members of the committee considered necessary that to happen "relatively soon" if the economic situation does not improve dramatically. So any future liquidity operations to support the economy is not excluded by the end of next month, according to Reuters. Meanwhile, Japanese exports fell in July with the strongest pace in six monthsagainst the background of the European debt crisis and a slowdown in China, passed Financial Times. Decline of 8.1 % annually is much more serious than the median forecast of economists for a fall of 2.9 %. Exports to the EU has plunged 25.1 % - the biggest drop since October 2009, resulting in a record trade deficit of Japan with the region. Local economists' expectations were that demand from China will support the economy, but the reality was different - exports to China dropped in July by 11.9 % YOY - the biggest decline of five months because of the lower supply semiconductor, electronics and car parts.

Collective investment schemes managed by the "UBB Asset Management" presented in full unison with the market indices - three of the funds reported increases - UBB Premium Equity with 0.93 %, UBB Balanced Fund with 0.62 % and UBB Platinum Bond 0.18 %, while sectoral UBB Patrimonium Land declined by 0.31 %. 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