Lebanese Bourse Shows Signs of Improvement upon Finalized 2018 Budget Discussions

The BLOM Stock Index (BSI) gained an incremental 0.57% in the past week, to stand at 1,173.39 points on February 23, 2018. Similarly, the market capitalization rose marginally from $11.5B to $11.6B, this week. 

In fact, an average of 101,925 shares worth $850,444 were traded this week, compared to an average of 68,462 shares worth $821,380 traded in the previous week.

The S&P AFE40 and the S&P Pan Arab Composite Large Mid Cap Index, registered weekly upticks of 0.93%, and 0.53%, respectively. Meanwhile, the MSCI Emerging Markets Index slipped by a weekly 0.14%.

Regionally, the biggest gainers of the week were the Moroccan, Kuwaiti, Tunisian, and Egyptian bourses, all of which added 1.24%, 0.82%, 0.64%, and 0.49%, respectively. As for the week’s top losers, Qatar’s financial market retreated by 0.25%.

On the Beirut Stock Exchange (BSE), the banking sector grasped 51.03% of the week’s total traded value, while the real estate sector had a stake of 44.27%, leaving the industrial sector with 2.3% and the retail sector a share of 2.4%.

In the real estate sector, Solidere A and B shares rose by 1.56% and 1.2% to close the week at $8.47 and $8.4, respectively. 

In the industrial sector, the shares of Holcim gained a weekly 1.24% to $14.75 by Feb. 23, 2018.

Meanwhile, in the retail sector, RYMCO’s shares plunged by 7.38% to close the week at $3.01.

In the banking sector, BLOM Bank’s GDR shares and Bank Audi GDR shares declined by 1.88% and 2.19%, to $12.51 and $5.8, respectively. Meanwhile, BLOM and Audi listed shares grew by 1.69% each, to stand at $12 and $6 this week.

As for the BLOM Preferred Shares Index (BPSI), it slipped by a weekly 0.61% to 105.97 points on the back of the 3.85% decline in the shares of Bank of Beirut Preferred “I” which closed the week at $25. However, Audi’s Preferred “I” shares recorded an incremental uptick of 0.05% to $100.

On the London Stock Exchange, Audi Bank’s GDR shares slid by 0.87% over the week to $5.7

The Lebanese bourse reflected a marginal improvement as the Committee concluded the discussions on the state’s 2018 budget on a positive note. Namely, the performance of the bourse in the upcoming weeks will be affected by passing the finalized budget by the government for parliament endorsement expected in the beginning of March. Moreover, the preparations and reforms for the Paris IV Conference upcoming on April 6, 2018 in support of Lebanon will also affect the Lebanese financial market.



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