The BSI Maintains a Positive Performance  

 The BLOM Stock Index (BSI) gained 1.02% over the past week to reach 1,160.29 points. The average weekly traded volume rose from 271,555 to 417,593 and the average traded value also increased from $2.19M to $3.42M.

The market capitalization rose from $9.53B to $9.58B this week.

Regionally, the MSCI Emerging Markets Index, the S&P AFE40 Index and S&P Pan Arab indices registered respective rises of 1.26%, 0.16%, and 0.10%, during this week’s performance.

In the Arab world, the bourses of Saudi Arabia, Kuwait, and Tunis registered the largest gains for the week with respective weekly rises of 0.92%, 1.11%, and 1.05%, respectively. However, Qatar’s and Egypt’s stock markets witnessed weekly losses of 1.70% and 1.47%, respectively.

On the Beirut Stock Exchange (BSE), the real estate sector accounted for 84.24% of the total traded value, while the banking sector and industrial sector each accounted for 14.47% and 1.59%, respectively.

In the real estate sector, Solidere A and B shares rose by 4.47% and 6.43% to end the week at $8.41 and $8.28, respectively.

In the banking sector, BLOM Bank GDR shares, BLOM Listed shares and Audi GDR shares recorded respective increases of 1.21%, 0.88%, and 1.50% to settle at $12.55 and $11.40, and $6.09. However, Audi, Byblos, and BLC listed shares recorded losses of 0.67%, 0.62%, and 6.06% to stand at $5.95, $1.61, and $0.93.

In the industrial sector, the nominal shares of Ciments Blancs gained 12.35% to stand at $1.82, and HOLCIM shares rose by 4.79% to $12.26.

As for the BLOM Preferred Shares Index (BPSI), it rose by 0.14% to 105.09 points due to the 0.99% rise in Byblos Preferred 2008 shares, which stood at $102.

On the London Stock Exchange (LSE), BLOM Bank’s GDR shares gained 0.40% to $12.50.

The BSI’s performance maintained its upward trend this week. This could be partially explained by the new electricity plans as well as the success of the Lebanese army in the defeat of ISIS, in the north. However, the new tax arrangements might weigh down on the BSI’s performance in the upcoming weeks.

 

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