The BLOM Stock Index (BSI) ended the week at 1,188.88 points, down by a weekly 0.16%. However, the Lebanese gauge fared better than its international peers, the S&P Pan Arab Composite Large-Mid-Cap Index, the S&P AFE 40 Index and the Morgan Stanley Emerging Markets Index (MSCI) which recorded weekly losses of 1.14% to 139.2 points, of 1.14% to 976.78 points and of 0.96% to 62.92 points, respectively.
On the Beirut Stock Exchange, the average traded volume and the average traded value increased from last week’s 188,100 and $1.56M to 422,771 and $3.02M this week. The market capitalization slightly shrunk from $10.03B in the previous week to $10.01B.
In the banking sector, BLOM and Audi’s listed shares slid by 0.10% and 0.16% to end the week at $9.65 and $6.11, respectively. As for Audi’s GDR shares, they shed a weekly 1.90% to settle at $6.20.
The performance of preferred shares fared better than the performance of listed shares with the Blom Preferred Shares Index (BPSI) increasing from last week’s 104.55 points to 104.57 points this week.
In details, Bank Audi’s preferred G and H shares added 0.20% and 0.10% to settle at $100.50 and $100.60, respectively. In addition, Byblos Bank’s preferred 08 shares rose by 0.10% to $100.80. The only slip was registered by Bank Byblos’ preferred 09 shares, which slid by 0.10% to $100.6.
Real estate shares Solidere A and B registered a positive performance over the week with gains of 0.17% and 2%, putting the share prices at $11.61 and $11.74, respectively.
In the industrial sector, HOLCIM shares lost 5% to reach $15.20 while Ciments Blancs Bearer shares slumped from last week’s $3.75 to $3.02 this week.
On the regional front, all MENA bourses recorded losses at the exception of Dubai which gained a weekly 1.01%, Muscat which rose by 0.31% and Bahrain which added 0.04%.
The Qatari bourse registered the biggest weekly decline of 1.76%, followed by a 1.55% decline for the Saudi bourse and a 1.46% drop for the Amman stock exchange. Losses on Saudi Arabia’s bourse might be reversed next week when the market opens up to foreign investment.
The continuous political deadlock is preventing the stock market from registering a strong bounce. As the political status quo extends further, activity on the Beirut Stock Exchange is likely to remain confined to minor upward and downward movements, mirroring the stagnant activity of the whole economy.