site.btaSOFIX Rises 29.5% in 2025, Euro Adoption Seen as Catalyst for Further Growth

SOFIX, the oldest index of the Bulgarian Stock Exchange (BSE), rose by 29.5% in 2025, with experts expecting the positive trend to continue in 2026 following Bulgaria’s adoption of the euro.

The blue-chip index ended the final trading session of 2025 at a new 17-year high of 1,156.43 points, compared with 892.74 points at the end of 2024. The psychological threshold of 1,000 points was crossed in early June for the first time since 2008.

Despite the relatively small size of Bulgaria’s capital market, SOFIX’s performance was broadly in line with major global indices. In 2025, the S&P 500 rose by about 17%, the Dow Jones Industrial Average by 14%, the Nasdaq Composite by 21%, the STOXX Europe 600 by 16%, and Germany’s DAX by around 22%.

Shares of 13 of the 15 companies in the SOFIX index recorded gains in 2025. The biggest increases were posted by Sirma Group Holding, Shelly Group, Bulgarian Stock Exchange, Doverie United Holding and Sopharma.

Turnover on the BSE exceeded BGN 1 billion in 2025, the highest annual level in more than a decade.

The first trading session in 2026 with trading and settlement in euros for all instruments on the BSE will take place on January 5.

BSE Executive Director Manyu Moravenov said eurozone membership is expected to have a positive effect on the Bulgarian capital market, citing the experience of Croatia following its adoption of the euro. He noted that the elimination of currency risk is likely to attract new foreign investors and increase the scale of initial public offerings.

A positive impact is also expected by Caroline von Linsingen, Head of IPO & Growth Financing at Deutsche Borse Group, who said the euro would facilitate comparisons between companies and attract greater investor interest in Bulgarian firms.