Solidere only mover in Lebanese market in shortened week
Activity on the Beirut Stock Exchange was limited to two trading days last week due to the Adha holiday. Only three stocks saw any trading, with Solidere dominating once again and accounting for 88 percent of turnover. It remains to be seen whether the serious start of widespread administrative reforms would have any immediate positive impact on overall sentiment. On a weekly basis, Volume was limited to 41,603 and turnover to $215,678 compared to 320,096 shares valued at $660,292 for the previous week.
Solidere’s stock was mixed in low activity. The firm’s “A” shares rose 2.1 percent to $5.625 while there was no trades in “B” shares, which remained at $6.125. A total of 32,606 shares changed hands for a value of $188,762 compared to a volume of 71,798 shares and a value of $419,094 for the previous week.
Bank stocks contributed 9 percent of turnover on the bourse for the week without any change in prices. Solidere was the only GDR on the upside, surging 3.1 percent for the week, while Audi dropped 1.2 percent and Blom shed 0.5 percent. — ( Lebanon Invest )
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