Bulgarian Stocks Shoot up to New 2009 High

SOFIX, the main index on the Bulgarian stock exchange, jumped by 2.76% up to 470.44, reaching its highest level since the beginning of the year. Photo by Sofia Photo Agency

The Bulgarian stock market indices rose on Monday in line with the trend on world markets, after the pace of US job losses eased and major countries pledged to keep extraordinary government measures in place to prop up the global economy.

SOFIX, the main index on the Bulgarian stock exchange, jumped by 2.76% up to 470.44, reaching its highest level since the beginning of the year. BG-40 rose by 3.10% to 130.24 points, BGTR30 rose by 2.47% up to 349.69 points and BGREIT edged up by 1.54% to 45.46 points.

Benchmarks in Japan, Hong Kong and China added about 1 percent or more, with Asia's gains extending to Europe in early trade. Oil prices edged above $68 a barrel.

In Europe, Britain's FTSE 100 jumped over 2 % as America's Kraft Foods Inc. proposed a GBP 10.2 B takeover of British candy maker Cadbury PLC. The offer was immediately rejected, though Kraft vowed to pursue the deal, and Cadbury shares rocketed 34 %.

Benchmarks in Germany and France gained about 1 % each.

 

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