The Lebanese bourse slightly improved this week as revealed by the BLOM Stock Index (BSI) that increased by 0.45% to end the week at 1,178.59 points. During the same period, the average traded volume and value fell from 323,157 shares worth $2.71M to 172,267 shares worth $2.41M. This was also reflected by the broadening of the market capitalization from $10.11B to $10.16B.
Regionally, the S&P AFE40 and S&P Pan Arab Composite LargeMidCap Index respectively rose over the week by 0.44% and 0.11% to stand at 54.86 and 112.55, while the MSCI Emerging Markets Index increased by a weekly 0.04% to 980.07.
The bourses of Egypt and Abu Dhabi among the Arab bourses revealed upturns of 1.47% and 2.31%, respectively during this week’s trading activity, while the Qatari, Kuwaiti, and Saudi bourses recorded the largest losses of 1.5%, 0.85%, and 0.31%, respectively.
On the Beirut Stock Exchange (BSE), the banking sector accounted for 89.28% of the total traded value over the past week. BLOM Bank’s GDR shares rose by a weekly 0.17% to stand at $11.72, while the bank’s listed shares remained stable at 10.70%. Bank Audi’s GDR and listed shares also rose by 0.15% and 1.57% from last week, to reach $6.47 and $6.45, respectively.
As for the BLOM Preferred Shares Index (BPSI), it dropped by 0.59% to 105.27 points. The drop is mainly attributed to Byblos Bank’s Preferred 2008 and 2009 shares declining the most by 2.81% and 2.33% to $100.2 and $100.60, respectively. Moreover, Audi’s preferred I shares also marginally declined by 0.2% to $100.5
In the real estate sector, which accounted for 10.72% of the total traded value this week, Solidere’s A and B shares gained 5.65% and 3.18% to stand at $8.98 and $8.77, respectively.
On the London Stock Exchange (LSE), BLOM Bank GDRs decreased by 0.43% to $11.70 and Bank Audi GDRs plummeted 3.54% to $6.27. As for Solidere’s GDR shares, they gained 6.55% to $9.27
Major changes in the performance of the Lebanese bourse are expected to materialize starting May 15th, the due date assigned for the electoral law.