The stock market’s recovery continued this week and was supported by the withdrawal of the PM’s resignation, yet it remained shy as the BLOM Stock Index (BSI) registered a 0.28% uptick to stand at 1,118.95 points by Dec.8th .
Accordingly, the market capitalization reached $10.19B this Friday, up from the $9.89B recorded last week.
In fact, an average of 72,226 shares worth $913,195 was traded during the week compared to 70,866 shares worth $771,935 the week before.
Regionally, the S&P Pan Arab Composite Large Mid Cap Index rose by a weekly 0.29%, while both the S&P AFE40 and the MSCI Emerging Markets Index respectively lost 0.24% and 3.55%, over the week.
In the Arab world, the biggest gainers of the week were the stock markets of Saudi Arabia, Morocco, and Bahrain which respectively registered growth rates of 0.85%, 0.4% and 0.19%.
Meanwhile, the week’s biggest losers were the stock markets of Qatar, Egypt, and the United Arab Emirates (UAE) that fell by 0.31%, 0.35% and 0.79%, respectively.
On the BSE, the banking sector accounted for 75.23% of total traded value, while the real estate and industrial sectors accounted for the remaining 24.14% and 0.64%, respectively.
In the banking sector, BLOM Bank’s GDR and Audi Listed shares rose by 1.39% and 1.82% to $11.65 and $5.60, respectively.
On the London Stock Exchange, BLOM Bank’s GDR shares increased by 0.88% to reach $11.40.
As for the BLOM Preferred Shares Index (BPSI), it increased by 0.18% to reach 105.28 points. Byblos Preferred 2008 and 2009 shares rose by 0.30% and 0.39% to settle at $101.60 and $102.40, respectively.
Meanwhile, Bank BEMO Preferred 2013 shares lost 0.25% this week to $99.50.
As for the real estate shares, Solidere A and B shares’ lost a weekly 1% and 0.5%, to $7.94 and $7.91, respectively.
As the cabinet managed to convene for the first time since the eruption of the political crisis, the current optimism on the Lebanese bourse may continue, depending on the next actions the cabinet will take. However, the activity overall is expected to slow down ahead of Christmas and New Year’s holidays.