Beirut blast unlikely to trigger stock sell-off
A twin suicide bombing that hit the Iranian Embassy in the capital this week dragged the Beirut Stock Exchange lower but won’t trigger a major sell-off since long-term investors have already taken into account the deteriorating security situation, analysts told The Daily Star Thursday.
Political stalemate dampens trading at Beirut bourse
Despite a steady market capitalization and strong bank fundamentals, the Beirut Stock Exchange is expected to see continued lackluster trading into 2014 if the political stalemate and regional turmoil persist, brokers said Wednesday.
USD95m in bank Audi shares switch hands
Over 13 million of Audi Bank shares exchanged hands Tuesday in the biggest single operation witnessed by the bourse in years. Brokers said a leading investor apparently sold his stake in Audi to another unknown businessman. The 13,763,690 shares were valued at USD 95.491 million. The Audi share price rose by 7.43% to USD 6.94.