The BLOM Stock Index (BSI) ended the week with a 0.24% rise to reach 1,228.19 points. During the week, 75,524 shares worth $573,731 were traded on average compared to 48,061 shares worth $539,489 last week, respectively. Moreover, the market capitalization rose from $10.56B last week to $10.58B this week.
Moreover, the BSI outperformed some of its regional peers. In details, the MSCI Emerging Markets Index, S&P Pan Arab Composite LargeMidCap and the S&P AFE40 declined by 1.43%, 1.44%, and 1.22%, respectively.
Regionally, the 5% overnight slip in oil prices, on Thursday, weighed down on the gulf stocks. As such, most of the stock exchanges witnessed a downturn with Abu Dhabi, Qatar and Saudi Arabia experiencing the largest weekly losses of 3.03%, 2.37%, 1.42%, respectively. Nonetheless, Egypt’s stock index was the only gainer for the week with a rise of 4.41%
In Lebanon, the banking sector accounted for 80.58% of the total traded value on the Beirut Stock Exchange.
BLOM Bank’s listed shares, Audi listed shares and Audi GDRs grew by 1.71%, 0.74%, and 1.35% to end the week at $11.9, $6.80, and $6.75, respectively. BLOM Bank’s GDR shares fell by 0.78% to reach $12.65.
As for the BLOM Preferred Shares Index (BPSI), it witnessed a weekly drop of 0.21% to 106 points. This drop came due to the fall in Byblos Preferred 2009 share price by 1.90% to $103.50.
In the real estate sector that accounted 19.40% of total traded value this week, Solidere A shares lost 0.33% to reach $9.10, while Solidere B shares respectively gained 0.78% to $9.07.
In the industrial sector, Holcim’s shares plunged from $12.60 to $11.11.
On the London Stock Exchange (LSE), Audi GDR shares increased by 0.6% to $6.66, while Solidere and BLOM Bank’s GDR shares fell by 0.97% and 0.78% to $9.16 and $12.70, respectively.
The designation of a new army chief, Commander General Joseph Aoun pulled up the BSI this week. As such, further political developments and breakthroughs in the coming future will positively impact the Lebanese stock market.