Daily Market Bulletin by lanyuehua

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									                         Daily Market Bulletin
                                  Thursday 21 June, 2012

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                                                                                                         Volume
    Blom Stock Index                                                                                     Index                              Weighted Effective Yield on Eurobonds
1250                                                                                                 600,000               6.00%

                                                                                                                           5.50%
1200                                                                                                 400,000
                                                                                                                           5.00%
1150                                                                                                 200,000               4.50%

1100                                                                                                 0                     4.00%
           23/05/2012         31/05/2012        07/06/2012            14/06/2012           21/06/2012                           6/18/2011                9/18/2011               12/18/2011                 3/18/2012                 6/18/2012


BLOM Indices*                                                                 MARKET WRAP UP...................................................................................................................................................
                           Last             Previous         % Change
BSI                      1,145.10           1,151.14          -0.52%          The BLOM Stock Index (BSI) fell 0.52% to close at 1,145 points. The total volume also declined to 163,343
                                                                              shares valued at $2.13M. Solidere A lost 0.39% to $12.92, while its B counterpart added 0.38% to $13.05. In the
High                     1,151.94           1,151.14
                                                                              banking sector, Byblos common stock retreated 1.29% to $1.53, whereas BLOM and Audi listed shares dropped
Low                      1,138.81           1,144.45
                                                                              3.9% and 0.35% to $7.4 and $5.73 respectively. As for the industrial sector, Holcim Liban jumped 4.28% to end
Vol                      163,343            361,143          -54.77%
                                                                              the session at $16.8.................................................................................................................................................
Val                 $2,130,880             $3,632,687         -41.3%
                                                                              The BLOM Bond Index (BBI) edged up by 0.03% to 108.64 points on Wednesday reducing the average weighted
BPSI                      103.03             103.03               -           yield on holding Eurobonds by 1 basis point (bps) to 5.56% and the spread against the US benchmark yield by 3
Vol                       11,810             12,420                           bps to 487 bps. Lebanon’s credit default swap for 5 years (CDS) narrowed by an average 25 bps to 460-490 bps.
Val                     $1,106,250          $943,000

BBI                       108.64             108.61           0.03%           The slowdown of construction activity continued in April 2012, indicating that investment appetite remained
Yield                     5.56%              5.57%              -1            subdued in comparison with last year; noting that permits are usually issued 6 months to one year after a request
Spread                     487                490                -3           is filed. The number of construction permits issued in the first five months of 2012 thus diminished by 9.3% from
                                                                              the same period in 2011, while construction area authorized by permits (CAP) decreased by 12.5%. For the
BLOM Funds                 20/06/2012                                         month of May alone, the number of construction permits decreased by 4.7% y-o-y to 1,755 while CAP dropped
Cedars A ($)              $6,677.97                           -0.61%          by 21.7% y-o-y to 1.39 million square meters (sqm). This reflects a substantial contraction in construction area
Cedars B ($)              $5,063.20                           -0.63%          authorized per permit to 789 sqm. from 961 sqm in 2011. May’s number of issued permits was however the
Cedars C ($)              $5,071.97                           -0.61%          highest since October 2011, with improved activity seen across Lebanon but mostly in the Nabatieh, South
Petra A (JOD)                                                 0.41%           Lebanon, and the Beqaa. Area authorized by permits was highest in Mount Lebanon and it accounted for
                             2673.75
Petra B($)                                                                    527,641 sqm or 41.2% of total CAP in May. South Lebanon and Beqaa followed with 11.86% and 10.8%
                          $4,449.00                           0.41%
                                                                              respectively of total CAP.
BBF**                    $10,016.99
Pyramids                $4,583.50                             -1.49%
                                                                                                                                                                                                                             Mid           Mid
Foreign Exchange Market                                                                                                                                                                                                     Price***       Yield

                           Last             Previous         %Change                                               Last               Change                 Volume                 Vwap              Sep. 2012              101.38        2.18%
$/LBP                    1,504.00           1,504.00             -          Solidere (A)                          $12.92               -0.39%                10,850                $12.92             Mar. 2013              105.00        2.45%
€/LBP                    1,910.15           1,912.87          -0.14%        Solidere (B)                          $13.05                0.38%                 2,195                $13.05             Jun. 2013              106.00        2.68%
£/LBP                    2,367.53           2,371.60          -0.17%        BLOM GDR                               $7.70                    -                54,000                 $7.70             Apr. 2014              107.50        3.14%
                                                                            BLOM Listed                            $7.40               -3.90%                34,514                 $7.40             May. 2014              110.25        3.38%
NEER****                  102.93             102.62           0.30%         Audi GDR                               $6.45                    -                     -                     -             Jan. 2015              105.25        3.72%

Money & TB’s Market Rates                                                   Bank Audi                              $5.73               -0.35%                24,100                 $5.62             Aug. 2015              113.75        3.84%
LBP Interbank Rate                           2.75%                          Byblos Bank                            $1.53               -1.29%                25,240                 $1.53             Jan. 2016              114.50        4.14%
                  Lebanese TBs                Beirut $ Market               Byblos Pref 08                        $100.00                   -                 3,810               $100.00             May 2016               125.50        4.48%
1w                           -                    0.00%                     BOB Pref H                            $25.25                    -                 1,000                $25.25             Mar. 2017              118.75        4.59%
1M                           -                    0.06%                     BLC Pref A                            $100.00                   -                 2,000               $100.00             Nov. 2018              101.25        4.92%
3M                        4.39%                   0.11%                     BLC Pref B                            $100.00                   -                 5,000               $100.00             Mar. 2020              106.50        5.34%
6M                        4.87%                   0.59%                     Holcim                                $16.80                4.28%                   634                $16.80             Apr. 2021              118.75        5.54%
1Y                        5.08%                   0.70%                                                            BSI                  BPSI                    BBI                NEER                Oct. 2022             102.25        5.81%
2Y                        5.84%                   0.71%                     Year to date                          -22.40%              -1.03%                -3.05%                 8.99%             Dec. 2024              107.50        6.13%
3Y                        6.50%                   0.71%                                                          Cedars A            Cedars B                Petra A              Petra B             Nov. 2026              102.60        6.32%
5Y                        6.74%                   1.36%                     Year to date                          -0.08%               -2.91%                -9.68%                -9.65%

    Economic Research Department                 *BSI: BLOM stock Index BPSI:BLOM Preferred stock index        BBI:BLOM bond index
    T 01 991784/7    F 01 991732               **BBF: BLOM Bond Fund *** Prices are for information only, for any firm quotation please contact us
    research@blominvestbank.com                 **** Nominal effective exchange rate index
                                                                                                                                                                                                                                SAL

								
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