The Lebanese Bourse Maintains Positive Performance this Week

The BLOM Stock Index (BSI) merely rose by 0.03% over the past week to 1,168.90 points. The average weekly traded volume dropped from 244,634 to 187,286 while the weekly average value of traded shares increased from $2.58M to $2.83M.

The market capitalization rose from $9.86B last week to $9.87B this week.

Regionally, the MSCI Emerging Markets Index recorded a 0.95% slip over the week. However, the S&P Pan Arab Composite LargeMidCap Index and the S&P AFE40 slightly increased by 0.07% and 0.13%, respectively, over the week.

In the Arab world, Dubai’s stock index witnessed the largest gain with a rise of 1.75%, followed by Bahrain and Qatar with respective increases of 0.27% and 0.22%. However, the EGX, Egypt’s stock index, recorded a 1.5% weekly decline, followed by Saudi Arabia and Kuwait’s drops of 0.65% and 0.11%, respectively.

On the Beirut Stock Exchange (BSE), the banking sector accounted for 93.22% of the total traded value, while the real estate sector grasped a stake of 6.26%, and the industrial sector contributed for the remaining 0.52% of the total traded value.

BLOM Bank’s GDRs and listed shares added 0.84% and 0.91% over the week to reach $12 and $11.05, respectively. Bank Audi’s GDRs and listed shares fell by a weekly 0.80% and 0.16% to stand at $6.20 and $6.19, respectively. Moreover, Byblos Listed shares dropped by 0.62% to $1.61.

As for the BLOM Preferred Shares Index (BPSI), it dropped by 0.12% to 104.73 points. Bank Audi’s preferred I shares registered a 0.20% uptick to end the week at $101.2. Bank of Beirut’s Preferred H gained 0.04% to $25.11, while Bank of Beirut’s Preferred J lost 4.19% to $25.15.

In the real estate sector, Solidere’s A shares gained 0.56% to $9.05, while Solidere B shares registered losses of 2.79% to reach $8.70, over the week.

In the industrial sector, Holcim’s shares escalated by 8.15% to $12.60.

On the London Stock Exchange (LSE), Solidere’s and BLOM’s GDRs gained 4.43% and 0.85%, respectively, to close at $9.19 and $11.9, while Audi’s GDR shares lost 3.02% to $6.1.

After the awaited consensus on an electoral law, the Lebanese bourse managed to maintain its positive performance. However, the recent protests and objections over the agreed new law will possibly weigh down on the BLOM Stock Index in the upcoming weeks.


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