Lebanese Bourse Slowed Down this Week Affected by the Aoun-Berri Feud

The BLOM Stock Index (BSI) retreated by a weekly 0.32% this past week to stand at 1,170.06 points on February 8, 2018. However, the market capitalization slightly slid from $11.6B to $11.5B, this week. 

In fact, an average of 393,022 shares worth $5.4M were traded this week, compared to an average of 194,815 shares worth $1.9M traded in the previous week.

The S&P AFE40, the S&P Pan Arab Composite Large Mid Cap Index, as well as the MSCI Emerging Markets Index all recorded weekly losses of 2.53%, 2.43% and 4.67%, respectively.

Regionally, the Emirati Stock index and the Qatari bourses registered the largest upticks during the week with respective increases of 0.08% and 0.06%. However, Egypt’s and Bahrain’s financial markets slid by 0.77% and 0.25%, respectively.

On the BSE, the industrial sector grasped 75.6% of total traded value, while the banking and real estate sectors grasped the remaining 18.42% and 5.98%, respectively.

In the industrial sector, HOLCIM’s shares recorded a weekly decrease of 5.88% to stand at $14.57, while Ciments Blancs Nominal shares added 1.95% over the week to $2.61.

In the real estate sector, Solidere A and B shares slipped by 0.59% and 1.54% to $8.45 and $8.32, respectively.  

In the banking sector, BLOM Bank’s GDR shares and Bank Audi GDR shares fell by 0.78% and 1.69%, to $12.65 and $5.8, respectively. Meanwhile, Byblos listed shares rose by 1.25% to reach $1.62.

As for the BLOM Preferred Shares Index (BPSI), it recorded a 0.17% rise to end the week at 106.62 points on the account of the weekly upticks of 0.58%, 0.58%, and 0.68% in the share prices of Bank of Beirut Pref I and J shares, and BEMO Preferred 2013 shares, which respectively settled at $26, $26, and $104.

On the London Stock Exchange, BLOM Bank’s GDR shares fell by 0.39% over the week to reach $12.65. Audi GDR shares also slid by 0.85% to $5.85.

The performance of the Lebanese bourse this week was inhibited, as it was affected by the Berri- Aoun two months old dispute which was awakened this week, before being resolved in a meeting in Baabda palace with both parties signing the decree that would promote 200 security officers.


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