The BLOM Stock Index (BSI) lost a weekly 0.4% to stand at 759.73 points in the week ending December 06th 2019. The BSE’s market capitalization remained almost stable at last week’s $7.43B. In turn, the traded volume reached an average of 131,896 shares worth $2.9M this week, compared to last week’s 22,352 shares worth $146,237 last week.
Meanwhile, the region’s S&P Pan Arab Composite Large Mid Cap Index and the S&P AFE 40 registered the respective weekly upticks of 1.28% and 0.89%. However, the MSCI Emerging Markets Index recorded a weekly decline of 0.96%.
On a regional level, the week’s top gainers were the bourses of Bahrain and Qatar which gained a weekly 1.74% and 0.91%, respectively. Nonetheless, the biggest losers were the stock markets of Egypt and Dubai, as they respectively declined by 1.06% and 0.3%, respectively, over the week.
On the Beirut Stock Exchange (BSE), the baking sector, including a block trade on Bank of Beirut’s Preferred Class “I”, grasped 96.5% of the trading value, leaving the respective shares of 3.44% and 0.06% for the Real estate and Industrial sectors.
In the real estate sector, Solidere A and B shares slipped by 4.52% and 1.29% to end the week at $5.28 and $5.35, respectively.
Meanwhile, shares of industrial company HOLCIM remained stable at $9.5 this week.
In turn, the BLOM Preferred Stock Index (BPSI), retreated by 0.08% over the week to settle at 78.67 points.
On the London Stock Exchange, BLOM (GDR) shares fell by a weekly 6.09% to close at $1.85 by the week ending Dec. 06th 2019.
The activity on the Beirut Stock Exchange in the coming week will be tied to how the parliamentary sessions will go Monday 09th, but also to the degree of unanimity and agreement among the parliamentary blocs over the choice of a PM accepted by the blocs, the people and the international community. After that, the steps to monitor in the coming weeks will be the formation of a government whose priorities will be “reform” in various sectors and fighting corruption.