Low trading volumes in January for BSE
Activity on the Beirut Stock Exchange receded in January compared to December. Aggregate volume dropped 44.6 percent to 931,171 shares and value fell 43.9 percent to $5.65 million, of which 81 percent were in Solidere stock. Still, January’s activity compared favorably with the $4.1 million in turnover registered in January 2000. Trading for the week ending February 2, was on the downside as 4 stocks closed lower amid negative sentiment. On a weekly basis, volume dropped by 79 percent to 28,611 shares and turnover dropped 90.4 percent to $64,892.
Solidere’s stock registered minimal activity. The firm’s “A” shares dropped 5.7 percent to $6.25 while “B” shares lost 3.6 to end the week at $6.75. A total of 2,700 shares changed hands for a value of $17,225 compared to a volume of 35,263 shares and a turnover of about $238,000 for the previous week.
Bank stocks contributed 73 percent of turnover on the bourse for the week. Both Audi and Byblos reported a drop in their yearly earnings during the week. Byblos stock dropped 3.6 percent to $1.687 while Audi was not traded.
Bou Khalil Markets fell 10 percent to $1.875 after jumping 25 percent last week. Lebanon Holdings shed 25 percent on 4,000 traded shares to close at $4.312. Lebanese GDRs were mostly on the downside. BLC shed 17 percent and Audi lost 6.3 percent while Blom gained 6.9 percent. The Lebanon Invest Share Price Index (LISPI) ended the week at 62.52, down 3.14 percent from the previous week’s closing of 6454. The Lebanon Invest Bank stock Index (LIBX) ended the week at 141.52, down 0.14 percent from the previous week’s closing of 141.72. — ( Lebanon Invest )
© 2001 Mena Report (www.menareport.com)