Real Estate Pushed the Lebanese Bourse Down This Week

The BLOM Stock Index (BSI) fell by a weekly 0.77% to stand at 965.17 points, by the week ending April 05 2019. Also, the market capitalization fell from last week’s $9.49B to $9.41B to this week.

In details, an average of 22,232 shares worth $329,152 was traded this week, compared to an average of 98,186 shares worth $ 681,564 traded in the previous week.

Regionally, the S&P AFE 40, the S&P Pan Arab Composite Large Mid Cap and the MSCI Emerging Markets Index, registered weekly gains of 1.64%, 2.30%, and 3.40%, respectively.

In the Arab World, the bourses of Dubai, Egypt and Saudi Arabia were the week’s top gainers adding 5.51%, 3.97% and 3.13% respectively. Meanwhile, the stock markets of Abu Dhabi and Morocco were the biggest losers, registering the respective declines of 1.35% and 1.04% by the week ending April 05.


On the Beirut Stock Exchange (BSE), the Banking sector grasped 83.11% of the total trading value over the week while the real estate sector and the industrial sector captured the remaining share of 13.14% and 3.76% of total trading activity.

In the real estate sector, Solidere A and B shares fell by 7.66% and 7.67% to stand at $5.91 and $5.90, respectively.

In the banking sector, BLOM Bank’s GDR shares and Bank Audi’s listed shares registered weekly Declines of 1.94% and 0.20% to stand at $9.60 and $4.99, respectively. On the contrary, Bank Byblos’s listed shares witnessed weekly growth of 2.26% to stand at $1.36 by the week ending April 05.

However, On the London Stock Exchange, BLOM GDR shares and Bank Audi GDR shares recorded a decline of 1.55% and 2.91% during the same period to stand at $9.50 and $5.00 respectively.

As for the BLOM Preferred shares Index (BPSI), it rose slightly by 0.60%, closing the week at 87 points. In details, the rise in Byblos Preferred 09, Audi Pref. H, and Audi Pref I   by 5.56%, 1.06% and 0.11% to $76.00, $95.00 and $89.90 respectively, outpaced the decline in Bank of Beirut Pref. H by 0.20% to $24.90.

In fact, the decline in Solidere A and B shares has negatively affected the overall index this week.

Impacted by the uncertainty that continues to loom over the surrounding region, the current outlook of the Lebanese real estate sector seems blurred. In fact, the market is still waiting for the actual government reforms to take place to restore internal and external confidence.

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