The Lebanese Bourse Progressed this Week

Over the past week, the performance of the Beirut Stock Exchange observed a significant improvement with the BLOM Stock Index (BSI) rising 0.55% to 1,155.75 points. This was translated by a $51.92M increase in the market capitalization to $9.52B.

Even though the bourse witnessed several stocks being traded, the average traded volume dropped from 788,722 shares worth $5.63M to 245,089 shares worth $2.49M this week.

During this week, the BSI outpaced some of its regional peers. The Morgan Stanley (MSCI) emerging index the S&P Pan Arab Composite LargeMidCap Index and the S&P AFE40 registered respective drops of 0.82%, 1.96%, and 1.40%.

The Bahraini and Qatari Stock indices were among the top performers of the Arab Region this week, with respective gains of 1.37% and 0.22%. by the end of the week, on Thursday, OPEC decided to cut oil production in an effort to boost back prices. The TASI had sustained losses during the week after KSA declared reduced spending in response to the downfall in crude prices, the government cut back state employees’ allowances and canceled bonus payments. As such, the Saudi bourse witnessed a substantial fall of 5.47%. The Dubai and Jordanian indices followed, with respective losses of 0.86% and 0.90%.

The banking sector maintained the largest share of total value traded on the Lebanese Bourse, with a share of 88.39%. Byblos common shares rose over the week by 1.86% to stand at $1.64. However, Audi GDRs and Audi common shares dropped by a similar 0.80% to reach $6.15 and $6.20, respectively.

Moreover, the BLOM Preferred Shares Index (BPSI) rose by 0.37% to 104.60 points. This was linked to the increase in Byblos preferred 2009 shares and Audi Preferred G by 0.50% and 1.00% to $100.50 and $101.00, respectively. Also, each of Bank of Beirut preferred “I” and “J” shares grew by a similar 1.36% to converge at the same price of $26.00.

The real estate sector, accounting for 11.27% of total traded value, escalated this week, where Solidere class “A” and “B” recorded respective gains of 3.22% and 3.50% to $9.30 and 9.45, respectively.

As for the manufacturing sector, 2,905 HOLCIM shares were traded this week worth $42,112, with no change in its price of $14.50.

On the London Stock Exchange, Solidere GDRs rose by 4.15% over the week to stand at $9.53. Similarly, Audi GDRs gained 0.81% to $6.25, respectively, after talks spread about a nearing consensus over the election of a president.

As the BSI revealed progressing performance this week, investors may have resumed their trading activity after the summer season. However, and as the next meeting to elect a president was adjourned to the 31st of October, activity on the Beirut Stock Exchange is not expected to show any major change unless a political improvement occurs in Lebanon.

 

Banking Sector

Mkt 30/09/2016 23/09/2016 % Change
BLOM (GDR) BSE $10.30 $10.30 0.00%
BLOM Listed BSE $10.00 $10.00 0.00%
BLOM (GDR) LSE $10.30 $10.20 0.98%
Audi (GDR) BSE $6.15 $6.20 -0.81%
Audi Listed BSE $6.20 $6.25 -0.80%
Audi (GDR) LSE $6.25 $6.20 0.81%
Byblos (C) BSE $1.64 $1.61 1.86%
Byblos (GDR) LSE $80.00 $80.00 0.00%
Bank of Beirut (C) BSE $18.80 $18.80 0.00%
BLC (C) BSE $1.69 $1.69 0.00%
BEMO (C) BSE $1.72 $1.72 0.00%

 

Mkt 30/09/2016 23/09/2016 % Change
Banks’ Preferred Shares Index * 104.60 104.21 0.37%
Audi Pref. F BSE $100.50 $100.50 0.00%
Audi Pref. G BSE $101.00 $100.00 1.00%
Audi Pref. H BSE $101.00 $101.00 0.00%
Byblos Preferred 08 BSE $100.60 $100.60 0.00%
Byblos Preferred 09 BSE $100.50 $100.00 0.50%
Bank of Beirut Pref. I BSE $26.00 $25.65 1.36%
Bank of Beirut Pref. H BSE $25.00 $25.00 0.00%
Bank of Beirut Pref. J BSE $26.00 $25.65 1.36%
BLOM Preferred 2011 BSE $10.00 $10.00 0.00%
BLC Pref B BSE $100.50 $100.50 0.00%
BLC Pref C BSE $100.00 $100.00 0.00%
Bemo Preferred 2013 BSE $100.00 $100.00 0.00%

Real Estate Sector

  Mkt 30/09/2016 23/09/2016 % Change
Solidere (A) BSE $9.30 $9.01 3.22%
Solidere (B BSE $9.45 $9.13 3.50%
Solidere (GDR) LSE $9.53 $9.15 4.15%

Manufacturing Sector

   

Mkt

 

30/09/2016

 

23/09/2016

    % Change
HOLCIM Liban BSE $14.50 $14.50 0.00%
Ciments Blancs (B) BSE $2.70 $2.70 0.00%
Ciments Blancs (N) BSE $3.10 $3.10 0.00%

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