BSI Up this Week as Optimism over the cabinet Formation

The BLOM Stock Index (BSI) increased by 0.99% to reach 981.30  points over the last week. The market capitalization grew from $9.44B, last week, to $9.54B this week. 

On average, 147,510 shares worth $949,176 were traded on the BSE last week compared to 180,769 shares worth $1.51M in the week ending October 5.

Regionally, during the last week, , the S&P AFE 40, and the S&P Pan Arab Composite Large Mid Cap Index recorded an increase of 0.14% and 1.23%, respectively while the MSCI Emerging Markets Index declined by 2.46% .

In the Arab world, the bourses of Egypt, UAE and Bahrain decreased by 1.46% , 0.83% and 0.41%, respectively while the bourses of Qatar witnessed a uptick of 0.13%.

On the Beirut Stock Exchange (BSE), the banking sector grasped 51.43% of the total trading value, while the real estate and retail sectors grasped 48.51% and 0.06%, respectively.

In the banking sector, during the last week, BLOM GDRs shares , Blom listed and Audi GDRs shares rose by a weekly 8.58% , 2.17% and 3% to $10.00,$9.40 and $5.15 ,respectively while Audi Listed shares deceased by a weekly 0.99% to $5.00. On the London Stock Exchange, the GDR shares of BLOM Bank witnessed an increase of 6.32% over the week, to $10.10, while Audi GDR shares fell 2% to $4.90.

As for the Blom Preferred shares Index (BPSI), it recorded a loss of 0.92%, thereby ending the week at 88.48 points. In details, the downtick over the past week is attributed to the:

  • 23% decline in Audi Pref. H share price to $89.50
  • 12% decline in Audi Pref I share prices to $92.90
  • 15% decline in Audi Pref J share prices to $90.00
  • 20% decline in Bank of Beirut Pref. I share prices to $24.95
  • 29% increase in Byblos Preferred 08 share prices to $70.20
  • 31% increase in Bemo Preferred 2013 share prices to $96.50

In the real estate sector, Solidere A and B shares recovered after the last week drop and witnessed an increase of 0.34% and 3.97% to stand at $5.92 and $6.03, respectively.

The last week discussions over the cabinet formation and the Prime Minister-designate Saad Hariri latest statement that a new government could be formed in the coming days could bring positivity for the Lebanese stock market.

Leave a Reply

Your email address will not be published. Required fields are marked *