Despite the political and economic turmoil that Lebanon has experienced since mid-2019, the performance of the Beirut Stock Exchange has taken a big leap since the beginning of questyear, surpassing the performance of the rest of the Arab markets and joining the best markets in terms of percentage increase in Middle East, North Africa and Europe.
Since the summer of 2019, Lebanon has seen an economic collapse in acceleration, the worst in the country’s history, exacerbated by the horrific explosion of the port of Beirut in August last year and measures to deal with the Corona virus.
The World Bank predicts real GDP in Lebanon, which is suffering from a “severe and chronic economic depression”, will shrink by about 10% in 2021.
However, the Bloom Index of the Beirut Stock Exchange has recorded a 71.54% increase since the beginning of questyear, and rose 1.63% during the month, outperforming the performance of the Bloomberg index for Europe, the Middle East and North Africa, which grew by 28.83% from the beginning of the year, according to data collected by Al Arabiya.net”.
The Bloom Index is a capitalization weighted index of all companies listed on the Beirut Stock Exchange.
Lebanon is in second place by gain in Europe, the Middle East and North Africa, after Estonia, which jumped by 78.99% since the beginning of the year.
Over the past month, the Beirut Stock Exchange has outpaced the movement of gains made at the level of the Arab stock exchanges in terms of market capitalization, after having increased by 7.73%, mainly benefiting from the improvement in the performance of the banking sector index.
Market value reached $ 10.569 billion, up from $ 9.8 billion in July.
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