Weak Performance Marked the Lebanese Bourse throughout the Week

The Lebanese Bourse was not able to sustain last week’s improvement, as shown by the BLOM Stock Index (BSI) which declined by 0.88% to end the week at 1,133.72 points. The average traded volume went down, but to a higher value, from 107,180 shares worth $936,561 last week to 105,198 shares worth $962,227. As for the market capitalization, it narrowed from $9.50B to $9.42B.

On the regional front, Morgan Stanley Emerging Markets Index (MSCI) edged up by 0.41%, while the S&P AFE 40 Index and the S&P Pan Arab Composite Large-Mid-Cap Index recorded weekly losses of 0.47% and 0.63%, respectively.

Most Arab Bourses saw weekly downturns, the largest being in Egypt, decreasing by 3.49% during the week. This lackluster performance was partly due to security tensions. Bahrain and Amman’s Bourses followed declining weekly 1.19% and 1% respectively. In contrast, Tunisia’s Bourse, Qatar’s stock exchange and Dubai’s financial markets saw weekly gains of 1.26%, 0.28%, and 0.25%, respectively.

Back to the Beirut Stock Exchange, the banking sector captured 61.24% of the total traded value during the week while the real estate and the industrial sectors grasped the remaining 36.62% and 2.14%, respectively. 

In the banking sector, BLOM GDR shares and Audi listed shares lost 0.31% and 0.34%, during the week, to $9.55 and $5.93, respectively. In contrast, Byblos listed shares gained 0.63% to close at $1.61. As for the performance of preferred shares, the BLOM Preferred Shares Index (BPSI) dropped by 0.38% to 105.66 points. The preferred shares of Audi class “G” and those of Byblos 2009 decreased 1.85% and 1.56% to end the week at $100.70 and $100.90, respectively. In contrast, Byblos preferred shares 2008 and BLOM preferred shares 2011 gained 0.20% and 0.10% to $100.50 and $10.16, respectively.

In the real estate sector, Solidere shares classes “A” and “B” shed 5.92% and 3.90%, during the week, to $9.53 and $9.61, respectively.

In the industrial sector, Holcim shares gained a weekly 3.45% to close the week at $15.

For the coming weeks, the performance of the Lebanese bourse will remain affected by the political and security developments.

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