Bulgarian Stock Exchange affected by political turmoil - Reports

Bulgarian Stock Exchange affected by political turmoil - Reports

2013 was a difficult year for the Bulgarian Stock Exchange (BSE), according to BSE-Sofia chair Vasil Simov.

The business, trades and stock exchange have been affected by the political turmoil in the country, Simov said at the company's annual report press conference.

"In economical terms, 2013 has been quite complex but also successful for stock trading. The annual turnover exceeded BGN 560 M. Although it is much lower than in 2012, it is not an indicator, but simply data," Simov argued at the press conference.

According to Simov, BSE-Sofia was at its lowest in Q3 of 2013 due to the unstable political situation in the country.

The highest number of transactions is reported in the non-food sector, topped by fuel trading, followed by commodity and metals.

BSE's annual report reveals a definite price fluctuation, as grain market records a 2.5-fold growth, however at the expense of the reducing number of foods and customers. Oil reports no annual drop with prices varying around USD 110 per barrel.

"The prognoses are for a very difficult 2014 with regards to the stock exchanges, due to the political situation both in Bulgaria and globally. The climatic factor will also have certain influence," Vasil Simov concluded.