Another Week in the Green for the Beirut Bourse  

The BLOM Stock Index (BSI) recorded a weekly rise of 0.72% to reach 1,144.62 points on Dec.22, 2017. Accordingly, the market capitalization reached $10.43B this Friday, up from last week’s $10.35B.


In fact, an average of 720,074 shares worth $10.24M was traded during the week compared to 755,665 shares worth $7M traded in the week ending December 15th.


Regionally, all three major equity indices improved. In details, the MSCI Emerging Markets Index added 1.18% over the week. Similarly, the S&P Pan Arab Composite Large Mid Cap Index as well as the S&P AFE40 registered respective weekly upticks of 1.32% and 1.35%.


The largest gainers of the week in the Arab world were the stock markets of Qatar and Saudi Arabia which respectively recorded growth rates of 5% and 1.89%.  Meanwhile, Tunis Stock exchange was the only one to witness a loss this week, with a drop of 0.07%.


On the BSE, the real estate stocks accounted for 12.34% of the total traded value, while the banking grasped the remaining share of 87.66%.


In the real estate sector, Solidere A shares slid by a weekly 1.48%  to $7.98, while Solidere B’s shares recorded an uptick of 0.88% to $8 by the end of the week.


In the banking sector, BLOM Bank’s GDR and listed shares rose by weekly 2.44% and 2.56%, to $12.60 and $11.60, respectively. Similarly, AUDI Bank’s GDR and Listed shares registered upticks of 2.28% and 0.17% to $5.84 and $5.75, respectively, this week.


On the London Stock Exchange, BLOM Bank’s GDR shares and Audi Bank GDRs increased by 1.21% and 2.63%, to reach $12.5 and $5.85, respectively.


As for the BLOM Preferred Shares Index (BPSI), it recorded a weekly decrease of 0.04% to 105.38 points on the back of Audi Pref I and J shares recording respective weekly drops of  0.1% and 0.05% to $99.90 and $99.95. Meanwhile, Bank of Beirut Preferred H shares increased by 0.97% to $25.90.


The BSI is still recuperating from the extreme plunge it witnessed after PM Saad Hariri resigned. Nonetheless, as the year comes to an end, the BSI might experience a slowdown in its activity.

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