The BLOM Stock Index (BSI) lost a weekly 3.54% to end the week ending May 17 at 839.58 points. Accordingly, the market capitalization fell from last week’s $8.48B to $8.18B this week. Moreover, the average traded volume and value of listed shares went from 154,485 shares worth $743,304 last week to 117,595 shares worth $880,738 this week.
In their turn, the regional indices registered weekly downturns with the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap, as well as the MSCI Emerging Markets Index retreating by 3.11%, 2.61% and 1.68% over the past week.
In the Arab World, the Gulf markets witnessed the largest drop this week. In details, the Abu Dhabi stock market, the Saudi and Bahraini bourses registered respective losses of 6.6%, 2.65%, and 2.56%.
On the Beirut Stock Exchange (BSE), the banking sector accounted for 94.95% of the total traded value, while the real estate grasped a stake of 5.05%.
In details, BLOM Bank’s GDR and Listed shares fell by a weekly 6.25% and 1.23% to stand at $7.50 and $8, respectively. Moreover, Bank Audi GDR and Listed shares declined by a weekly 2.27% and 9.91% to reach $4.30 and $4.00, respectively. Byblos Listed shares dropped by a weekly 2.38% to $1.23.
As for the BLOM Preferred shares Index (BPSI), it slid by 0.55% to 85.14 points, owing it to a weekly 10.74% decline in the price of Bank Audi Preferred H shares, to $84.80.
On the London Stock Exchange, BLOM GDR and Audi GDR shares fell by a weekly 2.50% and 2.27% to $7.80 and $4.30.
In the real estate sector, as Solidere posted a $112M loss, shares of the company fluctuated during the week. Solidere A marginally rose by 0.60% to $5.03, while Solidere B shares fell by 1.61% to $4.88.