BLOM Stock Index Loses Some of Last Week’s Gains

The BLOM Stock Index (BSI) ended the week at 1,227.67 points, 0.04% down compared to last week’s 1,228.19. The average traded volume and value were also down by a weekly 31.61% and 30.47% to reach 51,650 and 398,893 this week. The market capitalization also dropped from last Friday’s $10.582B to $10.578B this week.

The S&P Pan Arab Composite LargeMidCap Index and the S&P AFE40 were also down this past week with respective declines of 0.24% and 0.11%. However, the MSCI Emerging Markets Index rose by a weekly 4.36%.

Regionally, the Turkish and Egyptian stock exchanges were up by 1.42% and 1.02% while the Qatari and Abu Dhabi bourses slipped by 1.01% and 0.73%, respectively.

In Lebanon, the banking sector accounted for 77.35% of the total traded value on the Beirut Stock Exchange.

Bank Audi’s GDR and listed shares rose by 0.30% and 0.15% to $6.77 and $6.81, respectively. Byblos Bank’s listed shares also gained 0.57% to $1.75.

BLOM Bank’s listed shares slid by 1.26% to $11.75 and Bank BEMO’s listed shares fell by 0.59% to $1.69.

As for the BLOM Preferred Shares Index (BPSI), it rose by a weekly 0.04% to 106.04 points mainly on account of the 0.39% uptick in the price of Byblos Preferred 2008 shares to $102.50.

In the real estate sector, which accounted for 22.4% of total traded value this week, Solidere A shares gained 0.11% to $9.11 while Solidere B shares lost 0.77% to $9.00.

In the industrial sector, Holcim’s listed shares and Ciments Blanc’s Bearer shares rose by 3.51% and 8.28% to end the week at $11.50 and $3.14, respectively.

On the London Stock Exchange (LSE), the GDR shares of BLOM, Audi and Solidere all increased by 0.39%, 1.95% and 0.76% to $12.75, $6.79 and $9.23, respectively.

The positive vibes generated by the election of a president and the formation of a cabinet might now start to fade as the increase in various taxes and the pending upturn in the wages of public sector employees cause nation-wide controversy.


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