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The yield difference between shrinking American and Lebanese bond 12 basis points
"Blum OOO": "Central" would reduce the cost of borrowing for companies and individuals
Improved activity listed on the Beirut stock exchange during the past week, a "Bank of Lebanon and the Lebanese diaspora to stock" (BSI) 1.3 percent to close at level 1, 188.9 points, achieving advanced 1.7 percent since the beginning of the year. The average daily volume 94708, worth $ 806183 for 556337 shares worth 76960 dollars last week, market capitalization rose to $ 119 million to 9, 28 billion dollars by the end of the week, according to the financial report of the Bank of Lebanon and the diaspora to work "(Blum OOo).
The report compared with regional and emerging indices, the Lebanese over his index "s & p" the Arabic markets 0, 66 percent to 113, 62 points, to Morgan Stanley "tzerh" for emerging markets which slipped 0, 36 percent to 1, 073.15 points.
The report noted that "the real estate sector dominated trading on the LME during the week and received 58 percent of the total value traded, the shares of Solidere (a) and (b) this week by 1.25 and 2, 19 percent to 12, $ 13, $ 60 respectively.
Bank, the price of shares "Bank" 1.46 percent to 6, $ 24, and the price of certificate of deposit 5, 47 percent to 6, 75 dollars respectively. Certificate of deposit rate has also increased, "the Bank of Lebanon and the diaspora" 1.35 percent to 8.25 dollars, and contributed to the "Byblos Bank" by 1, 86 percent to 1.64 dollars.
As for preferential stock index has improved by 0, 13 percent to 104, 94 points, driven by the high price of shares "Bank" preferential "d" by 0, 68 percent to 10, 42 dollars, rising arrow "" Bank a "preferential" by 0, 77 percent to 26, 2. However, the share price "Byblos Bank" preference category (08) by 0.10 percent to 102 dollars.
According to the report, "issued by the Central Bank (Bank of Lebanon) on 14/1/2013 circular No. 313, which will grant credit facilities worth $ 1.5 billion to banks reduced benefits in order to encourage borrowing, and activating the economic wheel, to have this decision several positive effects on financial markets, for its contribution to lowering the cost of borrowing for companies and individuals alike.
Exchange market
The US dollar has stabilized among banks this week to 1501-1505 pounds, average price stood at 1503.
Foreign currency reserves dropped to the Central Bank of Lebanon (gold) by monthly amounted to 1.4 percent to 35, 18 billion dollars during the first half of January, with the proportion of the dollarization of the Ecuadorian remained about 65 percent of deposits at the end of November, compared with 66 percent in December 2011.
Internationally, the exchange rate of the euro against the dollar by 0, 59% during the previous week. The euro approached the record highest level during the last 10 months after Spain's success in selling new bonds worth 6 billion dollars and at low cost, compared to the cost of the auction. This success also was associated with remarks by European Central Bank President Mario Draghi optimistic with regard to the recovery of the financial markets, leading to increased investor confidence in the euro. All these factors contributed to the euro's close to 1, 34 against the US dollar on Friday, January 18 at 12.30 GMT Beirut, registered an improvement of 0, 59 percent since last week. Thus the lira depreciated 2, 012.96 against the euro from 2, 001.06 a week ago. In addition, the actual exchange rate dropped 0.08 percent to 103, 56 points.
Treasury bonds
Expanded the money supply (m3) 310 billion lire (about 206 million US dollars) during the week ending 3 January to 158238 billion Liras (104, 97 billion dollars), advanced by 7, 93 percent during the year, and 7, 96 percent since December 2011.
And decreased the money supply "M1" 108 billion lire ($ 71 million), due to higher trading exchange 30 billion pounds ($ 20 million (, demand deposits decreased 138 billion lira ($ 91 million).
As for total deposits (excluding demand deposits), jumped 418 billion dollars as foreign exchange deposits increased $ 217 million, and deposits increased by $ 60 million pounds. The dollarization of the Ecuadorian expanded money supply 9 basis points to 58, 23 percent, with interbank interest settled on 2, 75 percent in November, according to the Bank of Lebanon.
During the auction of Treasury bonds port on 10 January, the IPOs 648, 29 billion lire (about 430 million dollars). And 3 years to 83 percent of the total shares, compared with 14 percent for one year, while the category 3 percent. And settled for one year and biennium and 3 years 5, 10, 5, and 6, 5 percent respectively.
The Ministry of finance continued to accept all IPO offerings, the new IPOs exceeded those due b 237, 66 billion lira (157, 65 million dollars).
Aliorobondz market
Continued demand for bonds "aliorobondz" Lebanon remains high this week, offering a "plume" of securities (BBI) by 0, 69 percent during the week to close on Thursday at 110, 32 points, up 1.16 percent from the beginning of this year, noted demand for most bonds, especially long-term (10 years and over), where prices rose at a rate of 1.9 percent, the bond due 2027 alioribondz intensive applications filed saw its price of about 3 percent.
And average return on Lebanese aliorobondz bonds portfolio 13 basis points to 4.9 percent, while shrinking the difference between return likely for Lebanese aliorobond bonds and US counterpart 12 basis points to 405 basis points.
As for emerging markets, the index ". JP Morgan emerging markets "on Thursday, 670, 94 points, insignificant improvement of 0.01 percent from last week.
It was trading risk insurance for inadequate credit rating of bond holders, when margin 381-419 basis points compared to 409-446 basis points last week, restoring such minimum levels recorded by October 2012, reflecting an improvement in investor confidence in the Lebanese Government's ability to pay its debts. While Dubai and Saudi Arabia closed margin stable at 200-215 basis points and 69-74 basis points respectively.
In emerging countries, Brazil mtkolda margin closed to 107-109 basis points versus 110-112 basis points last week, while expanding margins of Turkey 117-119 basis points to 121-124 basis points.
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