Bulgarian stock market enjoys highest gains in 6 months
Updated: 2009-04-087th April 2009
The Bulgarian stock exchange reached an all time 6 month high on Monday in response to a positive G20 summit. The Bulgarian stock market increased by 5.8% on Monday bringing the index to 312.83 points. The volume of trade was also high at around BGN 2.7 million (double the daily average of the last 3 months). The biggest winners of the day were the First Investment Bank and tourism company Albena, who share values jumped by double digits.
Brokers were quietly anthusiastic about the increase. “The positive sentiment from Friday spilled over into Monday’s session at full force,” said Nikolai Kichukov, broker at investment brokerage Elana Trading. Kichukov stated that larger firms have to return but smaller investors seeking to cash in on the rally are also playing a part.
Some experts warn it is still too early to call the bottom of the market but the trends are looking good for the Bulgarian stock exchange.
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