The Beirut Stock Exchange in H1 2016: Performance Review

The first months of 2016 were somehow positive for the Lebanese economy. In the budding months of 2016, no major security events were recorded. Moreover, the municipal elections were held and the country was busy with the campaigning of traditional political parties but also by that of a new wave of civilians from various backgrounds and professions, still unacquainted with the political scene, but looking to make a change in their respective regions.

On the downside, the political status – quo lingered yet again. The presidential seat is still vacant at the time of writing with no indications on a near-term resolution. The new US restrictions on Hezbollah transactions handled by any foreign institution spurred much controversy in the country as well.

In terms of security events, Lebanon suffered two hits. BLOM Bank’s headquarters were hit by a bomb that luckily left behind only material damage. Later in June, in the border Chrisitian town of Qaa, eight suicide bombers attacked in a two-wave strike one before dawn and one later at night.

Unfortunately, the performance of the stock exchange in the first half of 2016 (H1 2016) indicated that negative investor sentiment prevailed yet again. The BLOM Stock Index (BSI) recorded a 1.69% decline over H1 2016 to 1,149.79 points compared to 1,169.52 points at the end of December 2015. The market capitalization, fell by 1.76% to $9.55B at the end of June compared to $9.72B at the end of December 2015.

To read the full report, follow the link below:

The Beirut Stock Exchange in H1 2016 – Performance Review

 

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