Positive Political Talks Positively Affect the Lebanese Bourse


The Lebanese Bourse registered a rise this week, where the BLOM Stock Index (BSI) increased by a weekly 0.15% to 1,218.97 points. Accordingly, market capitalization on the Beirut Stock Exchange (BSE) rose from $10.24M to $10.25 this week.

 Moreover, the average traded volume and value on the Lebanese bourse respectively escalated from last week’s 181,622 shares worth $2.72M to 548,733 shares worth $3.23M this week.

When compared to regional indices, the BSI lagged behind the S&P Pan Arab Composite LargeMidCap Index which recorded a 0.99% weekly rise. However, the S&P AFE40 and the Morgan Stanley (MSCI) Emerging Markets index observed respective falls of 0.39% and 3.25%.

In the Arab world, the Egyptian bourse remained in the lead with a weekly gain of 5%, which can be linked to the approval of the $12B IMF loan. Moreover, the Kuwaiti and Bahraini Indices followed with respective rises of 1.89% and 1.66%. However, Qatar’s stock index continued to observe a loss, where it registered a 1.87% fall during this week

The banking sector grasped the largest share this week of 80.32% out of the total value traded on the Lebanese Bourse, where most stocks observed rises in their value. In details, BLOM listed shares gained 0.10% to close at $10.11. Moreover, Audi common shares and Audi GDRs increased by 0.30% and 1.56% to reach $6.60 and $6.50, respectively.

As for the BLOM Preferred Shares Index (BPSI), it increased by 0.06% to 104.92 points. This rise can be attributed to the 0.10% and 0.96% rise in Audi Preferred class “H” and BoB Preferred “I” that reached $101.10 and $26.25, respectively. Moreover, BoB Preferred “K” shares grew 1% to $25.25. However, Byblos preferred 2009 and Audi Preferred “G” dropped by 0.59% and 0.10% to $101.5 and $101.90, respectively.

As for the real estate sector, it constituted 17% of the total weekly traded value with Solidere A and B shares increasing from $11.35 and $11.38 last week, to $11.45 and $11.40 at the end of this week.

The manufacturing sector contributed to the remaining 2.68%, with HOLCIM shares plunging 9.52% to $13.87.

On the London Stock Exchange, Byblos GDRs fell 1.25% to reach $79, while Audi GDRs and BLOM GDRs witnessed respective inclines of 1.53% and 0.95% to $6.65 and $10.60.

As hopes rise for the cabinet formation before Lebanon’s Independence Day on November 22, the BSI was positively affected. As such, if this were to happen, Lebanon’s index will further improve in the upcoming weeks.

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