Weak Investor Sentiment on the BSE as Political Stalemate is Prolonged  

 The BLOM Stock Index (BSI) registered another weekly loss of 0.23% to reach 1,036.14 points by the week ending July 20th. The market capitalization also retreated from last week’s $10.09B to $10.07B this week. 

On average, 118,210 shares worth $1.3 million were traded on the BSE this past week compared to 148,792 shares worth $1.7 million last week.

The MSCI Emerging Markets Index shed a weekly 0.90% while the S&P AFE 40 and the S&P Pan Arab Composite Large Mid Cap Index both rose by a weekly 0.96% and 0.89%, respectively.

On a regional level, Egypt was the sole loser with the EGX30 losing 2.92% over the past week. Meanwhile, the Abu Dhabi, Dubai, and Qatar stock exchanges all registered weekly gains of 1.77%, 1.45% and 1.10%, respectively.

On the Beirut Stock Exchange (BSE), the banking sector grasped 88.34% of the total trading value while the real estate and industrial sectors grasped the other 11.5% and 0.2%, respectively.

In the banking sector, BLOM Bank’s GDR and listed shares added 0.96% and 0.10% to end the week at $10.50 and $10.21, respectively.

As for Bank Audi’s GDR shares they lost 3.45% to $5.31 while the Bank’s listed shares rose by 1.40% to reach $5.08.

Bank Byblos’ listed shares also dropped by 2.08% to $1.41 while Bank BEMO’s listed shares slid by 1.27% to $1.55.

On the London Stock Exchange, BLOM Bank’s GDR shares rose by 0.97% to $10.40 while Bank Audi’s GDR shares slid by 0.93% to $5.30.

As for the Blom Preferred shares Index (BPSI), it recorded a decline of 0.68% to end the week at 93.55 points. In details, the climb is attributed to:

  • 40% weekly decline in the shares of Bank Byblos Preferred 08 to $87.00
  • 99% decline in the shares of Bank Byblos Preferred 09 to $90.00
  • 10% decline in BLC Preferred D shares to $90.00

The declines listed above overshadowed the 0.11% uptick in Bank Audi’s Preferred I shares to $94.10.

In the real estate sector, Solidere A and B shares recorded weekly upticks of 0.14% and 2.11% to reach $7.23 and $7.27, respectively.

Meanwhile, in the industrial sector, HOLCIM’s listed shares fell from last week’s $16.03 to $15.00 this week.

The Beirut Stock Exchange remains very sensitive to Lebanon’s chronic political deadlocks; the subdued trend on the Lebanese market is likely to be extended until a government is formed.


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