During the past week three of the stock indices of BSE reported increases. The best represented sectoral BG REIT with a growth of 1.47 % (4.51 % in June), while BG TR30 and Sofix ended with identical changes - 0.58 % and 0.56 %, however for the month they lost respectively 4.63 % and 0.33 %. The weekly loss for price-weighted BG40 was 1.66 %, and monthly - 1.24 %. With the highest turnover during the week were ordinary shares of Enemona (588 thousand BGN) Mountain Paradise Invest REIT (513 thousand BGN) and Advance TerraFund REIT (368 thousand BGN), while for another 3 emissions turnover exceeded 100 thousand BGN. European and U.S. markets rose after Friday, when European leaders agreed to establish a single supervisory authority for banks in the euro area and to allow them to be recapitalised directly from rescue fund of the European monetary zone without increasing public debt. It was decided to set off, and another EUR 120 billion, which to support economic growth in the eurozone. The fund should start to operate by the end of the year and is aimed at measures that can bring immediate growth.

The unemployment rate in the European Union at the end of May was 10.3 %, showed official data from Eurostat. This means that for the month index rose by 0.1 percentage points. In May 2011 unemployment in the EU was 9.5 %. Growth of unemployment were observed in the euro area, where in May the unemployment rate increased to 11.1 %. A month earlier it was 11 %, and in May 2011 - 10 %. Eurostat estimates show that unemployed in the EU are 24.87 million people, of whom 17.6 million are in the eurozone. The lowest unemployment was recorded in Austria (4.1 %), Netherlands (5.1 %), Luxembourg (5.4 %) and Germany (5.6 %). At the opposite pole are Spain (24.6 %) and Greece (21.9 %). In Bulgaria, according to Eurostat there is no change in May compared to April and the unemployment rate remained 12.2 percent. On an annual basis, unemployment rose in 18 EU countries and in eight other was recorded drop. Only in Hungary there is no change.

One of the main problems in the labor market in Europe - youth unemployment continues to be quite sharp. The EU unemployment rate for those under 25 years was 22.7 % and in the eurozone - 22.6 %.

Collective investment schemes managed by the "UBB Asset Management" reported growths, and in the leadership role again proved to be UBB Patrimonium Land, which rose by 0.29 %. 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