BSI Down this week as Political Deadlock is Prolonged

The BLOM Stock Index (BSI) decreased by 0.31% to reach 981.43 points over the last week. The market capitalization declined from $9.57B, last week, to $9.54B this week. On average, 158,364 shares worth $975,416 were traded on the BSE in the week ending October 26 week compared to 164,988 shares worth $1,355,933 traded last week.

Regionally, during the week, the S&P AFE 40, and the S&P Pan Arab Composite Large Mid Cap Index recorded respective rises of 0.13% and 1.14% while the MSCI Emerging Markets Index witnessed a drop of 2.26%.

In the Arab world, the bourses of Saudi Arabia and Bahrain rose by 2.32% and 0.12%, respectively while the bourses of Egypt and Tunisia dropped by 5.73% and 2.12%, respectively .

On the London Stock Exchange, the GDR shares of BLOM Bank witnessed a rise of 3.78% over the week, to $9.60 .

On the Beirut Stock Exchange (BSE), the Banking sector grasped 63.42% of the total trading value, while the real estate and manufacturing  sectors captured 35.14% and 1.44%, respectively.

In the banking sector, during the last week, BLOM GDR shares, Audi listed shares and Byblos Listed shares increased by 3.78%, 0.20% and 0.71% to reach $9.60, $4.90 and $1.41, respectively. Moreover, Audi GDRs shares declined by a weekly 0.20% to $4.99.

As for the BLOM Preferred shares Index (BPSI), it ended the week with no change to stand at 87.13.

In the real estate sector, Solidere A and B shares witnessed decreases of 1.99% and 2.72% to stand at $6.88 and $6.80, respectively. Moreover, in the manufacturing and retail sectors, HOLCIM and Ciments Blancs (N) registered a weekly drop of 9.97% and 10.21% to $16.16 and $2.55, respectively.

The Beirut Stock Exchange erased last weeks’ important gains since the political deadlock around the government’s formation is prolonged.

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