Market Overview (15th November– 19th November)

The main Bulgarian index SOFIX increased by 0.58% this week, up to 612.08 points. The broad index BGBX40 decreased by 0.03% to 138.74 points. BGREIT decreased this trading week to 164.69 points, down by 0.47%.

Corporate News                                                      

Sirma Group Holding AD (SGH) has concluded a final agreement for the acquisition of a majority stake in Saint – a fast-growing, vertically focused provider of IT solutions based in Sofia. Saint develops technical solutions, including big data and business intelligence, machine learning and forms stable and compatible integrations and interfaces for new digital platforms and legacy systems. The value of the transaction is not specified.

Allterco AD (A4L) debuted on the Frankfurt Stock Exchange on 22th of November. Stock trading started with a sharp rise of 24% in price to 16.2 euros per share this morning. This is the first listing of a Bulgarian public company in Germany.

Economic News                                                       

The Bulgarian economy grew 0.4% year-on-year in the third quarter of 2021, less than a 9.9% rise in the previous quarter. Final consumption increased (5.1%), while gross fixed capital formation decreased (-3%). Meanwhile, both exports of goods & services and imports advanced by 12.5% and 11.1%, respectively. Bulgaria’s current account deficit narrowed to EUR 77.4 million in September of 2021 from a downwardly revised EUR 202.1 million in the corresponding month of the previous year. The secondary income switched to EUR 39.5 million surplus from EUR 34.7 million deficit a year ago and the services surplus expanded to EUR 346.8 million from EUR 220.7 million. Meanwhile, the goods deficit rose to EUR 209 million from EUR 195.8 million and the primary income shortfall widened to EUR 254.8 million from EUR 192.4 million in the prior year.

Active COVID-19 cases in Bulgaria are on a decreasing trend with a 7-day MA of 2,534 cases. The active cases at the end of the week were 108,085. The total number of fully vaccinated people so far is 1,693mln, which is 24.37% of the population in Bulgaria.

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