The BLOM Stock Index (BSI) registered a weekly drop of 0.46% to reach 1,187.55 points on Friday. Average traded volume shrank by a weekly 90.03% to 68,923, with an average traded value lower by 75.19% to $702,638. Accordingly, market capitalization went down from $9.56B last week to $9.52B on Friday.
The BSI was surpassed by all of its regional peers. The S&P AFE40 index, the S&P Pan Arab Composite Large Midcap Index and the Morgan Stanley Emerging index (MSCI) respectively gained 2.18%, 1.29% and 1.22% to end the week at 76.04 points, 166.12 points and 1,100.26 points.
Amongst Arab Bourses, the Qatari bourse was the top performer with a weekly gain of 4.04%, recovering its 2.42% loss last week, followed by a 3.91% rise for Dubai and an uptick of 2.28% for Egypt.The BSE was the worst performer this week followed by the Tunisian bourse and Amman’s stock exchange. The last two ended the week with a 0.43% and 0.35% loss, respectively.
Back to the Beirut Stock Exchange, particularly in the banking sector, the listed shares of Byblos rose 1.23% to $1.64. In contrast, Audi listed shares dropped by 2.87% to $6.09. Likewise the BLOM Preferred Stock Index (BPSI) ticked down by 0.08% to 104.56 points, where the preferred shares of Audi class “E” fell by 0.20% $100.50. Similarly, the preferred shares of Byblos 2008 and 2009 lost 0.40% each to end the week at $100.60 and $100.10, respectively. However, Bank of Beirut preferred shares class “I” added 0.39% to $25.70.
On the London Stock Exchange (LSE), Solidere GDR shares decreased by a weekly 0.56% to settle at $12.53. Meanwhile, BLOM GDRs and Audi GDRs gained 0.53% and 7.62% to $9.40 and $6.50, respectively.
In the real estate sector, Solidere A shares declined by 0.48% to close at $12.56, while the B shares added 0.72% to $12.61. In the industrial sector, HOLCIM shares lost 3.33% to $14.50.
For the coming week, security and political developments, particularly regarding fighting terrorism, will remain at the top of investors’ watch-list.