The Lebanese Stock Exchange Further Rose this Week  

The Beirut Stock Exchange, depicted by the BLOM Stock Index (BSI), recorded another increase this week, where the gauge rose 0.33% to 1,149.28 points. Likewise, market capitalization increased to $9.46B, as opposed to $9.43B during last week.

However, given that there were only 3 days of trading due to the Adha holidays, trading activity plummeted during this week with the average traded volume dropping from last week’s 1,908,720 shares worth $14,261,267 to 233,321 shares worth $2,486,689 this week.

Regionally, the Morgan Stanley (MSCI) emerging index plunged down by 4.13%. Moreover, the S&P Pan Arab Composite LargeMidCap Index and the S&P AFE40 also dropped this week and registered respective weekly falls of 0.23% and 0.29%

Due to Eid Al-Adha Holidays, no major changes occurred during this week in the Arab bourses.  The Egypt stock index fell 2.55% mainly due to the fall in property firm Talaat Mostafa and Juhayna Food Industries which lost 7.5 percent. All other Arab countries’ indices witnessed slight or no changes during this week.

The banking sector grasped the largest share of total value traded on the Lebanese Bourse, with a share of 98.75% with Byblos common shares and Audi GDRs falling 0.62% and 0.80% to reach $1.61 and $6.20, respectively.

However, the BLOM Preferred Shares Index (BPSI) dropped 0.10% to 104.51 points mainly due to decrease in Audi preferred F by 0.50% to $100.50, Audi preferred G and H shares by a similar  0.10% to $100.00 and $101.00, respectively. Furthermore, Byblos Preferred 2009 dropped 0.20% to $100.30.

In the real estate sector, which contributed to 1.25% only of total traded value this week, Solidere class “A” and “B” rose 1.33% to $9.15 and 0.89% to $9.10, respectively.

The manufacturing sector also witnessed an upturn this week with HOLCIM’s prices escalating 10.13% to $14.90.

On the London Stock Exchange, Solidere GDRs witnessed a drop of 1.06% to reach $9.30, end of this week.

The gauge is expected to slightly improve next week as investors resume their trading activity after the holidays.

 

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