Market retreats after Nasrallah's interview
- From: BasilRathbone2010@xxxxxxxxxxx
- Date: Thu, 3 Jan 2008 22:50:38 -0800 (PST)
Market retreats after Nasrallah's interview
Thursday, 3 January, 2008 @ 3:41 PM
Beirut - The Beirut Stock Exchange did not like what it heard from
Hezbollah leader Sayyed Hassan Nasrallah during his last night's
interview on NBN TV . His defiance sent the share prices down.
Shares of Solidere ( the largest real estate company in Lebanon ) went
down. Obviously the real estate boom that Michel Hayek has predicted
will have to wait till there is a light at the end of the tunnel. The
market only saw darkness after Nasrallah's speech .
Solidere "A" shares closed at $ 22.00 and "B" shares at $ 21.68. "A"
shares went down 1.56% and "B" shares 2.51%
Bank shares were mixed but mostly down too
Banque Audi GDR went down 1.55 % and closed at $ 75.80
BLOM bank GDR was up a fraction and closed at $ 89.90
Byblos Bank "listed shares" was down a fraction and closed at $ 2.21
Byblos Bank "Priority" went down 1.33% and closed at $ 2.21
HOLCIM Liban a cement manufacturing company was unchanged at $ 20.75
Market Capitalization for the shares traded on the exchange was down
at $ 10,716 billion.
The Lebanese Pound ( Lira) was unchanged at USD/LBP :1507.5
Volume of trade today was very light . Only 174,115 shares traded
hand . Value of traded shares was $ 4,467,727
Lebanon is beautiful but needs wise politicians
The seemingly endless debate over the presidency and the government,
coupled with sporadic assassinations, has left deep marks on the
already fragile economy. In 2007, Lebanon, which saw impressive growth
in 2004 and 2005, failed to take advantage of the oil boom in the
region as Gulf investors sought suitable places to put their money.
"We have good weather, beautiful mountains, a multilingual population
and a free economy. But what is missing are wise politicians," one
economist said.
The President of the Investment Development Authority for Lebanon,
Nabil Itani, proclaimed earlier this year that more than US$5 billion
worth of investments was expected to come to Lebanon in 2007.
"If the situation was normal in Lebanon, the Lebanese and Gulf
investors would have invested heavily in the tourism and real-estate
sectors," Itani said.
Nasrallah, s interview last night did not help the economy either . He
is still insisting on a government of national unity in which the
Iranian and Syrian backed opposition will have a veto power and wants
the agreement on this issue before the election of the president . PSP
leader Walid Jumblatt said " not over our dead bodies " . This veto
will be handed on a silver platter to Iran and Syria to further
control and destabilize this country. Jumblatt urged the opposition
to" think Lebanon first " and stop taking orders from Iran and Syria.
Jumblatt said "Nasrallah is not a free man"
Picture : Composed poster of PSP leader and head of the Democratic
Gathering MP Walid Jumblatt ( R) and Hezbollah leader Sayyed Hassan
Nasrallah. Both were on TV last night at almost the same time , but at
different channels . You had to watch them both to understand why we
continue to have a political crises in Lebanon.
Sources: BSE, Ya Libnan
Tags: Hezbollah, Iran, Jumblatt, Lebanon, Solidere, Stock Exchange,
Syria
.
- Follow-Ups:
- Re: Market retreats after Nasrallah's interview
- From: Tayyar el Kawmi el Murr
- Re: Market retreats after Nasrallah's interview
- Prev by Date: Siniora : Partership seekers seek solutions not set conditions
- Next by Date: Re: 18:18 - ?????? ???? ???? ?? ????? ??? ??? ???? - ??????? - ?????? ??? ????? ??? ?????? "??? ????" ????? ?? ???? "????????"
- Previous by thread: Siniora : Partership seekers seek solutions not set conditions
- Next by thread: Re: Market retreats after Nasrallah's interview
- Index(es):
Relevant Pages
|
