Banking and Real Estate Stocks Performed Positively on the Beirut Stock Exchange
The BLOM Stock Index (BSI) ended the week with a 0.61% increase to reach 1,227.70 points. During the week, 122,865 shares worth $1.36M were traded on average compared to 181,687 and $977,319 last week, respectively.
The MSCI Emerging Markets Index grew by a weekly 0.69% while the S&P Pan Arab Composite LargeMidCap and the S&P AFE40 declined by 0.66% and 0.35%, respectively.
On the Beirut Stock Exchange (BSE), the market capitalization rose from $10.51B last week to $10.58B this week.
Regionally, the stock exchanges of Turkey, Qatar and Tunisia ended the week as top performers with respective increases of 1.08%, 0.98% and 0.94%.
In contrast, the stock markets in Egypt, Saudi Arabia and the UAE ended the week in the red with weekly declines of 3.25%, 1.19% and 0.46%, respectively.
In Lebanon, the banking sector accounted for 78% of the traded value on the Beirut Stock Exchange.
BLOM Bank’s listed and GDR shares grew by 1.30% and 3.22% to end the week at $11.65 and $12.49, respectively. Bank Audi’s GDR shares also rose by 0.60% to reach $6.75.
In the real estate sector, which accounted for 21% of the week’s traded value, Solidere A shares added 1.28% to reach $9.47 and Solidere B shares rose by 2.51% to $9.41.
In the industrial sector, Holcim’s shares fell by 5.21% to reach $11.47.
On the London Stock Exchange (LSE), BLOM Bank and Bank Audi’s GDR shares increased by 2.87% and 0.60% to $12.55 and $6.75, respectively. Solidere’s GDR shares also grew by a weekly 2.46% to $9.99.
It seems that the election of a president and the ensuing confidence boost has allowed for the Beirut Stock Exchange to register more sustained upturns.
