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Beirut Stock Exchange sees marked increase in activity |
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Written by Daily Star
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The Beirut Stock Exchange witnessed a considerable improvement this week at the level of the trading value, with the latter amounting to $9.3 million, versus a much lower value of $1.8 million last week, according to Audi Weekly bulletin The average daily trading value rose from $ 352,000 last week to $1.9 million this week, thus entailing an important increase in the trading index of 429 percent to 108.9. The total traded shares reached 580,490 shares this week, against 165,210 shares last week, and 842,954 shares since the beginning of the year 2007.
As far as prices are concerned, the price index reported a very tiny negative change of 0.23 percent to 122.06. In details, the real-estate giant accounted for 85 percent of the week's turnover.
Solidere's "A" share edged up by 0.1 percent week-on-week to close at $15.21, while Solidere's "B" share dropped 0.3 percent, also closing at $15.21.
In parallel, the banking sector accounted for 10 percent of the trading value. Audi "listed" shares gained 1.8 percent and closed at $57.50, while Audi's GDRs slipped by 0.9 percent to $57.50. Byblos Bank "listed" shares stood at $1.70, while Byblos Bank "priority shares" declined by 1.1 percent to $1.78. BLOM's GDR also lost a very tiny 0.1 percent to $65.
Among the other listed securities, only Holcim's share traded and its price rose by 0.8 percent to $20.46. As to the
investment funds, only the Beirut Preferred Fund traded and its price remained unchanged at $98.
Solidere's GDRs, which are listed solely on the London Stock Exchange, stood at $16.5 this week.
"Finally, when compared to peer stock exchanges in emerging markets, Lebanon's performance has been far from other emerging markets, as reflected by the Morgan Stanley Capital International Emerging Market Free Index," the bulletin said. - The Daily Star
Daily Star staff
http://www.dailystar.com.lb/article.asp?edition_id=1&categ_id=3&article_id=85065
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