|BLOM Stock Index*|
|Average Traded Volume|
|Average Traded Value|
Lebanese equities improved this week, where the average daily traded volume on theBeirut Stock Exchange (BSE) for the week ending September 26, 2014 grew from 58,233 shares worth $411,413 to 791,450 traded stocks amounting for $6.36M. Hence, the BLOM Stock Index (BSI) progressed by 0.28% to close the week at 1,173.54 points with a year-to-date gain of 2.04%. As for the market capitalization, it broadened by $26.13M to settle at $9.41B.
The BSI outperformed the Morgan Stanley Emerging index (MSCI) which shed for the third week in a row by 2.91% to 1,025.63 points, in addition to the S&P Pan Arab Composite Large Midcap Index and the S&P AFE40 Index that lost 2.25% and 2.00%, to reach 162.86 points and 75.16 points, respectively.
Amongst Arab Bourses, Kuwait’s stock market and Tunisia’s Bourse fared better than the BSE, rising by a weekly of 0.75% and 0.38%, respectively.
On the other hand, Qatar’s stock exchange (QSE) was the worst performer for the week, declining by 3.31%, where investors becoming possibly over-valued stocks. The QSE was followed by Saudi Arabia’s Bourse and that of Abu Dhabi, dropping by 2.69% and 2.02%, respectively.
Back to the BSE, the banking sector contributed for 94.35% of total traded value and was followed by the real estate sector and the industrial sector that took 5.43% and 0.21% shares of the total.
In the banking sector, BLOM GDR shares were the only traded shares in the banking sector to post a weekly increase in price, adding 1.07% to $9.47. In contrast, Byblos listed shares and Audi listed and GDR shares fell by 0.61%, 1.48%, and 2.97%, to end the week at $1.64, $6.00, and $6.20, respectively.
Likewise, the BLOM Preferred Stock Index (BPSI) inched up by 0.13% to 104.77 points. The increase was triggered by the positive performances of Audi preferred “E” shares and Byblos preferred 2009 shares that increased by 1.00% and 0.40% to $101.50, and $100.50, respectively. However, Byblos preferred 2008 decreased by a weekly 0.10% to $100.60.
In the real estate sector, Solidere shares class “A” and “B” gained 2.49% and 3.45% from last week to close at $11.96 and $11.97, respectively, yet still below the $12.00 mark.
In the industrial sector, HOLCIM shares inched up by 3.45% to $15.00.
For the week to come, an improvement in investor sentiment remains associated to the improvement of the security situation in the region and the election of a new president, noting that the parliament had also failed in electing a president this week, for the 12th time, due to a lack of quorum.