Activity on the Beirut Stock Exchange (BSE) portrayed mixed results this week with the number of shares changing hands rising to 281,152 shares from 209,313 shares in the week before and value traded decreasing to $7.75 million compared to $8.76 million a week earlier. Trades were mainly concentrated in real estate sector stocks, which accounted for 55.80% of weekly traded volume.

The average daily traded volume increased to 56,230 shares this week, from 41,863 shares in the week before, while the average daily traded value fell to $1.55 million, from around $1.75 million a week earlier.

Four gaining and one losing stock were screened this week, lifting the BSE’s market capitalization up by 3.99% week-on-week to around $12.96 billion and the Credit Libanais Aggregate Stock Index (“CLASI”) by 4.28% to 1,370.59.

In the real estate sector, trades mainly consisted of Solidere “A” and “B” shares (55.62% of weekly traded volume), with the price of Solidere “A” rising by 4.95% week-on-week to $51.70 and that of Solidere “B” increasing by 8.06% to $51.35. On the other hand, the price of Holcim Liban shares ended the week down by 1.61% at $30.50. Consequently, the Credit Libanais Construction Sector Stock Index (“CLCI”) closed Friday’s session 5.56% higher on a weekly basis at 2,628.91.

In the banking sector, Byblos Bank listed shares amassed the highest concentration of trades (21.34% of total BSE traded volume) with a thin turnover ratio of 0.011%. The Credit Libanais Financial Sector Stock Index (“CLFI”) closed Friday’s session 0.34% higher w-o-w at 534.98 amid the 5.67% appreciation in the price of Bank Audi GDRs to $1.49.

The market-cap weighted average price to book value (P/BV) multiple of listed stocks ended its week higher at 3.779 based on the closing prices of Friday’s session compared to 3.546 in the previous week.