Major deals drive up stock market

$13 million deal on Audi GDRs, and $3 million transaction on BLOM's listed shares

Beirut’s stock market saw remarkable trading activity in the week ending March 30, 2012. The total value of the stock market transactions during the week was $19.82 million ($19,824,398). Total shares traded during the week were around 2.92 million (2,922,829 stocks).

This is the stock market’s most productive trading week since the beginning of 2012. The total turnover of the Beirut Stock Exchange during 2011 stood at $515 million.

The trading week was driven up by transactions of 2.56 million shares traded at a total value of $17.5 million on Thursday (March 29); a major transaction on two million Audi GDRs worth around $13 million ($6.5 per each), and another transaction on 505,200 BLOM listed shares valued at around $3.86 million ($7.95 each).

Throughout the week, a total of 98,764 Solidere A shares were traded in separate transactions with a total value of $1.4 million. Solidere B shares saw lower trading with 28,194 shares traded at a total value of $404,257.

Reported by Hanadi Chami