Bulgarian Stock Exchange Main Index Hits 500

SOFIX, the main index on the Bulgarian stock exchange, jumped by 2.25%, exceeding 500 points and reaching its highest level since October 10, 2008. Photo by Sofia Photo Agency

The Bulgarian stock market indices went up on Wednesday morning in line with the European trend where better news on retail sales and manufacturing, as well as the hope for an end of the recession helped send stocks higher.

SOFIX, the main index on the Bulgarian stock exchange, jumped by 2.25%, exceeding 500 points and reaching its highest level since October 10, 2008. The index has added a total of 92% to its points since end-February this year, when it hit a record-low.

BG-40 rose by 2.12% to 135.05 points, BGTR30 rose by 2.11% up to 367.08 points and BGREIT edged up by 0.24% to 45.55 points.

European stock markets were strong early Wednesday and extended their gains for a third consecutive session as a firm euro confirmed that appetite for risk remains intact. The Federal Reserve Chairman Ben Bernanke's call the recession has ended further boosted confidence.

At 0810 GMT, the Dow Jones Stoxx 600 index was up 0.7% at 243.11. London's FTSE 100 index gained 0.9% to 5088.68, Frankfurt's DAX index added 0.7% to 5669.58, and the CAC-40 index in Paris tacked on 0.9% to 3787.69.

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!