As total volume traded decreased 2.2 percent to 495,999 shares last week, total value dropped sevenfold to $9.5 million. Out of the 31 listed stocks, 14 were active this week; the prices of seven moved upward, one was unchanged and six declined. Banking-sector shares dominated trading this week, with 60 percent of the turnover, while real-estate titan Solidere's shares accounted for 38.4 percent of total trade.

The eight banking stocks that saw trading this week had a mixed performance. Beginning with BLOM Bank, the price of its global depositary receipt (GDR) dropped 2.01 percent last week to $92.55 due to the distribution of $3.50-per-share dividends on Tuesday. A total of 18,255 stocks of BLOM GDR were traded this week for a value of $1.7 million.

Bank Audi's GDR saw a slight increase after last week's drop, registering a rise of 2.71 percent to end the week at $92.70 on a total of 6,196 shares worth $571,138.

Both the common and priority shares of Byblos Bank were active on the Beirut Stock Exchange last week. Byblos Bank's common shares declined 0.43 percent to $2.29 on trades of 36,227 shares for a value of $82,745. Meanwhile, Byblos Bank's priority shares were steady at $2.30 on a total of 27,402 shares traded for $63,025.

Three of Bank of Beirut's shares witnessed trading last week. The bank's listed shares went up 0.37 percent and were priced $13.50 Friday, on total trades amounting to 224,000 stocks for $2.9 million - the most active trading among any banking share last week. In contrast, both of the bank's preferred shares ended the week in the red, as both closed at $25, with declines of 1.96 percent for the preferred C class and 0.99 percent for the preferred D class. There were trades of 10,400 preferred C shares for $264,000, while a single trade of the bank's preferred D shares saw 2,400 shares change hands for $60,000.

Lastly in the banking sector, Bemo Bank's common shares increased 2.5 percent to $4.10 on Tuesday's trade of 2,020 shares totaling $8,285.

On the London Stock Exchange, BLOM Bank's GDR declined 1.6 percent to $92, while Bank Audi's GDR closed at $93, up 3.91 percent.

Solidere's two share types saw opposite performances this week. While Solidere A shares decreased 0.4 percent to $22.41, the B stocks were up 1.13 percent to $22.36. Total trades of Solidere A stocks amounted to 133,987 shares for $3 million, while Solidere B saw trading of 28,125 shares for a value of $630,048. On the international front, Solidere shares went up 1.67 percent to $22.50.

In the industrial sector, shares of cement manufacturer Holcim continued their downward trend, decreasing 0.93 percent to close the week at $19.22 on a total of 6,447 shares traded for $124,701.

Of Bank of Beirut's four listed funds, three saw trades on the Beirut Stock Exchange last week, with each title seeing its price increase. Lebanese-pound-denominated Beirut Golden Income's single trade resulted in a 1.26 percent increase in the stock's price to LL104,300 with 10 shares traded for LL1.1 million. On the other hand, the dollar-denominated Beirut Global Income and Beirut Preferred Fund increased 0.68 percent to $103.50 and 0.5 percent to $101, respectively. Beirut Global Income saw a single trade of 100 shares at $10,350, while two trades of the Beirut Preferred Fund featured 430 shares traded for $43,430.

In brief, activity on the Beirut Stock Exchange is still being influenced by political rather than economic fundamentals. As such, the numerous initiatives to break the deadlock keep the market from dropping, while the continuing failure to resolve the squabble keeps any gains to a minimum. - BLOMInvest Bank's The Lebanon Brief