BLOM Stock Index Ends the Week in the Red

The BLOM Stock Index (BSI) lost 0.63% over the past week to reach 1,130.33 points. The market capitalization also fell from last week’s $11.21 billion to $11.14 billion.

An average of 319,580 shares worth $1.39 million were traded on the Beirut Stock Exchange (BSE) over the past week compared to 210,366 shares worth $1.45 million in the previous week.

Regional indices were down this past week with the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap Index and the MSCI Emerging Markets Index down by weekly rates of 0.41%, 0.34% and 3.36%, respectively.

The Egyptian stock exchange registered the highest weekly gain this past week by rising 3.27% followed by a 0.78% uptick on Kuwait’s bourse.

Meanwhile, the stock markets in Qatar, Dubai and Bahrain were the bottom movers this past week with respective downticks of 1.18%, 1.27% and 2.93%.

On the Beirut Stock Exchange (BSE), the banking sector grasped 71.25% of the total traded value followed by 29% accounted for by the real estate sector and a minor 0.14% grasped by the industrial sector.

In the banking sector, BLOM Bank’s GDR shares gained 2.23% to $11.45 while the bank’s listed shares slid by 0.80% to $11.10.

As for Byblos Bank’s shares, they fell from last week’s $1.66 to $1.50 this week.

As for the BLOM Preferred Shares Index (BPSI), it also dropped by a weekly 2.29% to 105.27 points. In fact, Bank Audi’s preferred I shares slid by 0.50% to $99.50 and Byblos Bank’s preferred 2008 and 2009 shares both lost 2.15% and 6.10% to end the week at the same price of $100.00.

In the real estate sector, Solidere A and B shares gained 3.39% and 2.07% to end the week at $8.53 and $8.38, respectively.

Next week’s stock performance will be affected by the release of the banks’ Q1 financials.


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