Lebanese Equities Improved during the Week ending September 26



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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.

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