BLOM Stock Index Performance Remained Lower this Week

The BLOM Stock Index (BSI) declined by 0.74% to reach 979.06 points over the last week. The market capitalization declined from $9.59B, last week, to $9.52B this week.

On average, 221,835 shares worth $1,691,506 were traded on the BSE last week compared to 167,690 shares worth $1,569,838, in the week ending September 7.

Regionally, during the last week, MSCI Emerging Markets Index recorded an increase of 13.08% while the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap Index, decreased by 0.10% and 0.41%, respectively.

In the Arab world, the bourses of UAE, Egypt and Tunisia declined by 1.17% , 1.16% and 0.91%, respectively while the bourses of Bahrain and Kuwait witnessed an increase of 0.34% and 0.36%, respectively.

On the Beirut Stock Exchange (BSE), the banking sector grasped 95.32% of the total trading value, while the real estate and industrial sectors grasped 4.59% and 0.09%, respectively.

In the banking sector, during the last week, Audi  listed shares increased by 0.99% to $5.10.

On the London Stock Exchange, the GDR shares of BLOM Bank witnessed an uptick of 0.56% over the week, to $8.95.

As for the Blom Preferred shares Index (BPSI), it recorded a loss of 1.22%, thereby ending the week at 90.01 points. In details, the downtick over the past  week is attributed to the:

  • 94% decline in Byblos’s Preferred 08 share price to $70
  • 60% decline in the BOB Preferred K share prices to $25
  • 28% decline in the Bank of Beirut Pref. H share prices to $25
  • 47% rise in BLC Preferred D share price to $95.45

In the real estate sector, Solidere A and B shares decreased by 4.75% and 0.93% to stand at $6.22 and $6.36, respectively. Moreover, in the industrial sector HOLCIM Liban shares dropped by 2.30% to stand at $16.60.

The delay in the formation of a new Cabinet is negatively impacting the performance of the Lebanese stock exchange.

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