The Beirut Stock Exchange Ends Week in the Green

The BLOM Stock Index (BSI) ended the week with a 0.30% to 1,220.20 points uptick on account of the positive performance of banking and industrial stocks.

All of the BSI’s regional peers ended the week on a positive note with the S&P Pan Arab Composite LargeMidCap, the MSCI Emerging Markets Index and the S&P AFE40 all rising by 1.99%, 1.66% and 2.22%, respectively.

On the Beirut Stock Exchange (BSE), the market capitalization rose from $10.48B last week to $10.51B this week.

The average traded volume and value on the Beirut Stock Exchange (BSE) however decreased from last week’s 207,879 and $2.46M to 181,687 and $977,319 this week, respectively.

Regionally, the Saudi Arabian bourse registered the highest weekly upturn of 2.32%, followed by 2.02% for Kuwait and 1.79% for Qatar.

However, Egypt and Tunisia’s stock markets declined by 3.53% and 0.90%, respectively over the past week.

In Lebanon, the banking sector accounted for 64.67% of the traded value. BLOM Bank’s listed and GDR shares grew by 2.68% and 2.20% to end the week at $11.50 and $12.10, respectively. Bank Audi’s listed shares also rose by 0.75% to reach $6.75.

On the other hand, Bank Audi’s GDR shares and Byblos Bank’s listed shares fell by 2.62% and 1.71% to close the week at the respective prices of $6.70 and $1.72.

As for the BLOM Preferred Shares Index (BPSI), it added a weekly 0.41% to 106.44 points. Byblos Bank’s preferred 2009 shares increased by a weekly 4.04% to reach $105.50 and that overshadowed the decline in price of BLC’s preferred B shares by 0.99% to $100 and that of BEMO Preferred 2013 shares by 0.25% to $99.75.

As for the real estate sector, which accounted for 34.40% of this week’s traded value, it witnessed a drop of 1.68% in Solidere A’s share price to $9.35 and a drop of 5.26% in Solidere B’s share price to $9.18.

In the industrial sector, Holcim’s shares rose from last week’s price of $10.28 to $12.10 this week.

On the London Stock Exchange (LSE), BLOM Bank and Byblos Bank’s GDR shares increased by 1.67% and 2.63% to $12.20 and $78.00, respectively. However, Bank Audi’s GDR shares lost 2.04% to $6.71. Solidere’s GDR shares also declined by a weekly 1.71% to $9.75.

It is unlikely for the stock exchange to register any major upturns in the coming period unless there is a political breakthrough regarding the new electoral law.  


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