September calm was broken only by few tender offers or another troubled bond issue.
Investors’ attention was directed primarily at public banks and their shares were traded relatively actively. In September they formed two pairs with different developments. While shares of First Investment Bank (FIB) and Bulgarian American Investment Bank (BACB) began the month with lowest quotations and gradually gained momentum, the shares of Central Cooperative Bank (CCB) and Corporate Commercial Bank (CCB) marked the opposite curve and at the end of September, stumbled in the unwillingness of market participants to bid for their shares.
On the stock exchange for the nineteen workdays of September 375,484 shares changed hands, which is by only 3.19% more than in August.
The shares of Bulgarian-American Credit Bank
already strengthened at the level of over BGN5 and for a second months stay stable there. The fact that the first session in September began with the lowest monthly rate – from BGN5.093 inspired holders of these securities to be more active. After eight trading sessions in which there were no transactions in the shares of the Bank, quotations stormed easily the threshold of BGN5.20, 5.30, 5.40 per share … And thus pulled up and two highest prices for the year. The stocks marked the highest growth of all public banks (9.25%).
By September 27 shares of BACB reached BGN5.60 lev per piece, or 52 cents above the highest value in August. This has been the highest price paid for these shares since January.
Satisfied with what happened in September, market players stopped transactions in the last two days of the month in this stock.
Since the highest price in September was also the last quotation for month the overall monthly move for the Bank was 10.24% upwards and investors set BACB’s share capital at a total of BGN138.7 million. This is well above the limit of one hundred million levs broken in June.
Trading in the shares of the Bank however was not very active in September. The traded securities were a total of 6,965 against 16,871 in August.
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Central Cooperative Bank sank down in September, consistently below the level of BGN1. Otherwise, the quotes were in narrow ranges. They continued to lose value and fall in the price BGN0.59, 0.58, 0.57, 0.56, 0.55 per piece. The torture for shareholders ended September 26 when CCB hit the month low of BGN0.549 per share. In August, the lowest quotation of the shares of the bank was 0.581. Unfortunately, the holders of CCB securities again marked the biggest drop among the four public banks (-8.5%).
Shares of the credit institution, however, were again among the most liquid ones on the bourse. And the result is a remarkable: a total of 303,171 CCB shares changed hands on the market with only 234,437 units a month earlier. So CCB remained the top publicly traded bank.
The recovery in last trading day of September, added a few cents to the price of these shares and they closed the month at BGN0.58 per share
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