The Lebanese Bourse Up this Week

The Lebanese bourse witnessed a slight improvement this week as revealed by the BLOM Stock Index (BSI) that increased by 0.28% to end the week at 1,173.31 points. During the same period, the average traded volume and value rose from 130,843 shares worth $1.47M to 323,157 shares worth $2.71M. This was also reflected by the broadening of the market capitalization from $10.08B to $10.11B.

Regionally, the S&P Pan Arab Composite LargeMidCap Index and the S&P AFE40 respectively declined over the week by 0.33% and 0.91%, while the MSCI Emerging Markets Index increased by a weekly 2.21%.

In the Arab world, all the bourses revealed a downturn during this week’s trading activity. In details, Egypt, Dubai and Qatar bourses witnessed the largest losses of 2.87%, 2.54%, and 2%, respectively.

On the Beirut Stock Exchange, the banking sector accounted for 79% of the total traded value over the past week. BLOM Bank’s GDR sharesdropped by a weekly 0.34% to stand at $11.70, while the bank’s listed shares gained 1.71% to settle at $10.70, respectively. Bank Audi’s GDR and listed shares fell by 1.37% and 0.78% to reach $6.46 and $6.35, respectively.

As for the BLOM Preferred Shares Index (BPSI), it rose by a marginal 0.03% to 105.89 points.  The rise can be mainly attributed to Bank Audi’s Preferred H and I shares increasing by 0.40% and 0.10% to $100.40 and $100.70, respectively.

In the real estate sector, which accounted for 18% of the total traded value this week, Solidere A and B shares gained 2.29% and 0.24% to both stand $8.50.

In the industrial sector, Holcim’s listed shares rose by 4.40% to settle at $12.09.

On the London Stock Exchange (LSE), BLOM Bank GDRs increased by 0.43% to $11.75, while Bank Audi GDRs plummeted 3.13% to $6.50, respectively. Moreover, Solidere’s GDR shares went up by 2.35% to $8.70.

In the coming week, the performance of the Lebanese bourse will highly depend on the publication of the Q1 financial statements of the remaining Lebanese banks. However, major changes in the performance of the Lebanese stock market will not materialize before May 15, the date of the electoral law deadline.


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