Only Solidere and Audi listed Stocks Ended in the Red During the Week
Aside from Solidere shares and Audi’s, active shares this week on Beirut Stock Exchange saw a positive performance. Accordingly, the BLOM Stock Index (BSI) went down by 0.17% to 1,186.89 points. In addition, the Lebanese gauge fared worse than its regional peers, the S&P Pan Arab Composite Large-Mid-Cap Index and the S&P AFE 40 Index which lost 0.04% and 0.05% over the week to 139.14 points and 62.89 points, respectively. In contrast, the Morgan Stanley Emerging Markets Index (MSCI) recorded a weekly gain of 0.08% to 977.60 points.
On the Beirut Stock Exchange, the average traded volume decreased from 422,771 shares last week to 346,348 shares this week, while the average traded value increased from $3.02M to $3.28M, over the same period. The market capitalization shrunk from $10.01B in the previous week to $9.99B.
In the real estate sector, Solidere shares classes “A” and “B” registered a negative performance over the week with losses of 0.34% and 0.94%, putting the share prices at $11.57 and $11.63, respectively.
In the banking sector, BLOM listed shares and Byblos listed shares gained 0.52% and 1.87% to end the week at $9.70 and $1.63, respectively. As for Audi’s listed and GDR shares, they shed 1.80% and 0.16% ending Friday’s session at $6.00 and $6.19.
The preferred shares displayed better performance than the listed shares with the BLOM Preferred Shares Index (BPSI) increasing by 0.16% from last week’s to 104.74 points this week.
In details, Byblos preferred shares 2008 and 2009 gained 0.20% and 0.40% to end the week at the same quote of $101.00. In addition, Bank Audi’s preferred shares class “F” and BLOM preferred shares 2011 added 0.40% and 0.20% to settle at $100.50 and $10.15, respectively. BEMO preferred shares 2013 also went up by 1.20% to close at $101.20.
On the regional front, most MENA bourses recorded losses probably due to the Holy Month of Ramadan season which started yesterday, a month of usual low activity due to the change in operating hours in most of the Arab countries.
The Egyptian bourse registered the biggest weekly decline of 2.34%, followed by a 0.73% decline for the Kuwait and a 0.22% drop for the Dubai stock exchange. Losses on Dubai’s bourse might have been caused by Emaar properties falling by 1% on Thursday, following the oversubscribed IPO of Emaar subsidiary in Egypt.
Abu Dhabi’s, Muscat’s and Qatar’s Bourses were the main winners, increasing by a weekly 0.37%, 0.05% and 0.15%, respectively.
The continuous political deadlock coupled with the Ramadan season might hold back the bourse from recovering next week.
