The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis rose by 1.27% over the week ending September 4, 2020 to reach 600.87 and the Market capitalization on the Beirut Stock Exchange (BSE) increased by 1.27% to reach $6.16B on September 4. Meanwhile the average volume and value of trades this week totaled 44,291 shares worth $477,549 traded, compared to 53,997 shares worth $538,200 traded last week.
Regionally, the S&P AFE 40 and S&P Pan Arab Composite Large Mid Cap Index rose weekly by 0.05% and 0.53%, respectively. Meanwhile, the MSCI Emerging Markets Index dropped weekly by 0.75%. In the Arab World, the bourses of Bahrain and KSA were the week’s top gainers adding 2.12%, and 1.39%, respectively. Meanwhile the bourses of Egypt and Qatar were the week’s top losers retreating by 2.46% and 0.47%, respectively.
On the Beirut Stock Exchange (BSE), Lebanon’s real estate sector grasped the lion’s share of the BSE’s trading value with a stake of 97.70%. The banking sector grasped the remaining share of 2.3%. The most noteworthy trades throughout the week included:
As for the BLOM Preferred Shares Index (BPSI), it remains unchanged this week at 61.32 bps.
On the London Stock Exchange, Audi and BLOM GDR shares closed the week at $0.36 and $1.35, respectively.
The optimism over the Government’s formation this week had positive effect on Beirut Stock Exchange leading to a higher Index. In details, a French roadmap for Lebanon’s next government calls for the immediate resumption of talks with the International Monetary Fund to fix the shattered economy and swift moves to fight corruption and introduce other reforms that have been delayed for years.