BLOM Stock Index Down by 0.17% This Past Week

The BLOM Stock Index (BSI) lost 0.17% over the past week to 1,154.58 points. The average weekly traded volume rose from 188,161 to 368,203 and the average traded value increased from $1.45M to $3.54M.

The market capitalization slid slightly from $9.60B last week to $9.59B this week.

Regionally, the S&P Pan Arab Composite LargeMidCap Index, the MSCI Emerging Markets Index and the S&P AFE40 all registered weekly upticks of 0.11%, 0.90% and 0.45%, respectively.

In the Arab world, the top three losing stock exchanges were those of Saudi Arabia, Egypt and Amman with weekly declines of 1.18%, 0.77% and 0.09%, respectively.

In contrast, the stock exchanges of Bahrain, Muscat and Dubai were the best performing Arab markets with weekly increases of 1.14%, 0.96% and 0.91%, respectively.

On the Beirut Stock Exchange (BSE), the real estate sector accounted for 75% of total traded value, the banking sector accounted for 24.7% and the industrial sector represented a marginal 0.3%.

In the real estate sector, Solidere A and B shares fell by 2.59% and 2.52% to end the week at $7.90 and $7.73, respectively. 

In the banking sector, Bank Audi’s listed shares and Bank Byblos’ listed shares increased by 1.50% and 1.23% to settle at $6.10 and $1.64, respectively.

As for the BLOM Preferred Shares Index (BPSI), it registered a 0.03% uptick to 104.78 points on account of a 0.10% increase in the price of Bank Audi’s Preferred I shares to $101.10 and a 0.10% increase in the price of Byblos Bank’s preferred 2009 shares to $101.20.

In the industrial sector, HOLCIM’s shares declined from last week’s $14.01 to $13.00 this week.

On the London Stock Exchange (LSE), BLOM Bank’s GDR shares added 0.41% to $12.30 and Bank Audi’s GDR shares slid by 0.97% to $6.12.

The BSI registered a decline this week mainly on account of the poor performance of real estate stocks. As for the coming week, the market is likely to price in the release of the commercial banks’ financial results for the first half of 2017.



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