Lebanese Bourse’s Performance dependent on Government Formation

 The BLOM Stock Index (BSI) decreased by 0.22% to reach 979.26 points over the last week. The market capitalization declined from $9.58B, last week, to $9.54B this week. On average, 1,585,291 shares worth $8,046,212 were traded on the BSE in the week ending November 2 week compared to 158,364 shares worth $975,416traded last week. This increase can be linked to the raise of BLC’s capital bank through the issuance of   263,510 number of Preferred “E” (Pref E) shares listed on Monday October 29, 2018.

Regionally, during the week, the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap Index and the MSCI Emerging Markets Index recorded respective rises of 0.81%, 0.68% and 3.92%.

In the Arab world, the bourses of UAE, Egypt and Qatar increased by 3.04%, 1.70 and 1.35% respectively while the bourses of Bahrain and Morocco witnessed a downtick by 0.45% and 1.57%, respectively.

On the London Stock Exchange, the GDR shares of BLOM Bank witnessed a rise of 4.17% over the week, to $10.

On the Beirut Stock Exchange (BSE), the Banking sector grasped 97.19% of the total trading value, while the real estate and manufacturing sectors captured 2.61% and 0.20%, respectively.

In the banking sector, BLC raised its capital through  the issuance of   263,510 number of Preferred “E” (Pref E) shares listed on Monday October 29, 2018. During the last week, BLOM GDR shares, BLOM listed shares and Byblos Listed shares increased by 4.17%, 0.22% and 0.71% to reach $10, $9.27 and $1.42, respectively. Moreover, Audi listed shares declined by a weekly 2.45% to $4.78.

As for the BLOM Preferred shares Index (BPSI), it recorded a loss of 0.40%, thereby ending the week at 86.78 points. In details, the downtick over the past week is attributed to the:


  • 4% decline in Byblos Preferred 09 share price to $72
  • 11% decline in Audi Preferred I share prices to $89.90
  • 43% rise in Byblos Preferred 08 share prices to $71

In the real estate sector, Solidere A and B shares witnessed decreases of 1.31% and 1.03% to stand at $6.79 and $6.73, respectively. Moreover, in the manufacturing sector, HOLCIM registered a weekly rise of 2.10% and to $16.50.

The Beirut BLOM stock index is still registering losses attributed mainly to the political issue around the government formation.

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