Real Estate Sector Pushes Lebanese Bourse Upwards

The Lebanese Bourse improved today on the back of a progress in the real estate sector. Accordingly, the BLOM Stock Index (BSI) started June in the green with a 0.15% increase to 1,195.40 points, broadening its year-to-date gaxins to 2.15%. In the real estate sector, Solidere shares class “A” and “B” gained 1.04% and 2.99% to settle at respective quotes of $11.62 and $11.72. This might be on the back of Solidere declaring its results for year 2014, achieving consolidated profits of $113.70M and the possibility to distribute dividends after a 3 year halt. In the banking sector, Byblos Bank listed and BLOM GDR shares lost 1.23% and 0.50% to close the session at $1.60 and $10.00, respectively. Meanwhile, Byblos Bank preferred shares 2008 and 2009, Audi common shares and BLOM Bank preferred 2011 shares traded with no change in price. In the industrial sector, Ciments Blancs Bearer shares plunged by 19.47% to end the session at $3.02.

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