The Lebanese Bourse Back in the Red this Week  

 10/02/201703/02/2017% Change
BLOM Stock Index*            1,216.61                 1,238.28-1.75%
Average Traded Volume             207,879                  188,26310.42%
Average Traded Value          2,456,242               1,981,57223.95%

The BLOM Stock Index (BSI) ended the week with a 1.75% drop to stand at 1,216.61 points. As such, the Lebanese index lagged behind some of its regional peers, the S&P Pan Arab Composite LargeMidCap, the MSCI Emerging Markets Index and the S&P AFE40 which respectively declined by 0.43%, 1.13% and 0.05% over the past week.

On the Beirut Stock Exchange (BSE), the market capitalization rose from $10.67B last week to $10.48B this week.

The average traded volume and value on the Beirut Stock Exchange (BSE) however increased from last week’s 188,263 and $1.98M to 207,879 and $2.46M this week, respectively.

Regionally, Egypt recorded the largest gain with a 2.41% weekly increase. Abu Dhabi’s stock market as well as Dubai’s bourse followed with respective increases of 2.77% and 1.63%. Nonetheless, the Kuwaiti and Saudi bourses registered 1.41% and 1.63% declines, respectively.

In Lebanon, the banking sector accounted for 90.56% of the traded value. BLOM Bank’s GDR and listed shares dropped by a weekly 1.42% and 0.88% to close at $11.84 and $11.20, respectively. Bank Audi’s listed shares also decreased over the past week by 3.87% to reach $6.70. However, Bank Byblos’ listed shares added a weekly 1.16% to close at $1.75.

As for the BLOM Preferred Shares Index (BPSI), it witnessed a weekly uptick of 0.38% to 106.01 points. The newly listed Audi Preferred I shares rose by a weekly 0.7% to $101.2, Audi Preferred G shares grew by 0.39% to $102.5. Nonetheless, Byblos Bank’s preferred 2009 shares and BLC Preferred D slid by a weekly 2.12% and 0.99% to $101.40 and $100, respectively.

As for the real estate sector, which accounted for 9.41% of this week’s traded value, it witnessed a downturn of 8.29% in the price of Solidere A shares to $9.51 and a 1.32% drop in the price of Solidere B shares to $9.69.

In the manufacturing sector, Ciments Blanc’s Bearer shares rose from $2.66 to $2.90.

On the London Stock Exchange (LSE), BLOM Bank, Bank Audi and Solidere GDR shares fell by a weekly 2.04%, 0.44%, and 0.80% to $12, $6.85, and $9.92, respectively.

Despite the release of the Lebanese Banks’ positive results last week, the BSE failed to maintain its upward trend, mostly due to the profit taking transactions.  A political agreement concerning the election law is most likely to encourage market sentiment, next week.

 

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