BLOM Stock Index Up this Past Week, in line with Regional Peers
The BLOM Stock Index (BSI) rose by 0.11% this past week to reach 1,162.66 points on January 12, 2018. Accordingly, the market capitalization reached $11.46B up from last week’s $10.58B.
In fact, an average of 186,751 shares worth an average of $1.46M were traded this week compared to 64,899 shares worth $599,261 traded in the previous week.
Regional stock market indices were also higher this week. The MSCI Emerging Markets Index, The S&P AFE40 and the S&P Pan Arab Composite Large Mid Cap Index all registered weekly increases of 0.48%, 1.77% and 1.68%, respectively.
The Qatari and Saudi Arabian bourses grew by weekly rates of 0.97% and 0.52%, respectively, while the UAE stock exchange registered a weekly decline of 0.14%.
On the BSE, the banking sector grasped 55.85% of total traded value, while real estate stocks and the industrial stocks accounted for the remaining shares of 44.00% and 0.15%, respectively.
In the real estate sector, Solidere A shares slid by 0.62% to end the week at $8.00 while Solidere B shares added a weekly 2.14% to settle at $8.11.
In the banking sector, BLOM Bank’s GDR and listed shares rose by 1.57% and 0.43%, to $12.90 and $11.75, respectively.
Meanwhile, Bank Audi’s GDR shares lost 2.20% over the past week to reach $5.77.
As for the BLOM Preferred Shares Index (BPSI), it recorded a 1.22% increase to 107.70 points as most preferred shares registered an uptick during the past week.
Bank Audi’s preferred J shares added 0.05% to $100.00 and Byblos Bank’s preferred 2008 shares increased by 3.25% to $104.90. Bank of Beirut’s preferred shares series I, J and K registered weekly upticks of 1.37%, 0.78% and 1.58% to close at $25.85, $25.85 and $25.75, respectively. Similarly, Bank BEMO’s preferred 2013 shares grew by 3.82% to $103.30 and BLC’s preferred D shares rose by 1.00% to $101.00.
However, Bank Audi’s preferred H shares lost 0.60% to $100.00.
On the London Stock Exchange, BLOM Bank’s GDR shares grew by 2.36% over the week to reach $13.00 while Bank Audi’s GDR shares rose by 3.33% to $5.90.
In the industrial sector, HOLCIM’s listed shares shed 1.72% to $14.25 while Ciments Blancs Nominal Shares edged up by 0.89% to $2.27.
A sustained upward trend on the Beirut Stock Exchange is uncertain as tensions on the political scene have been resurfacing.
