Lebanon Businessnews News

Beirut Stock Exchange
halted today for technical issues
No impact was registered against listed companies
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Trading was halted on the Beirut Stock Exchange (BSE) today due to a technical difficulty, according to a statement issued by the BSE.

According to Ghaleb Mahmassani, Vice President of the BSE, an electronic malfunction affected computers. He said that he technicians were unable to fix the problem quickly but that trading may resume normally tomorrow.

Toufic Karam, Head of Capital Markets at FFA Private Bank, said: “The technical error will not impact the listed companies as the volume of trading is too small on the BSE.” The daily average of trading is $1.5 million, according to the BSE.

Marwan Mikhael, Head of Research at Blominvest Bank, said: “The only loss was to brokers who take daily commissions on trading deals.” He said that this commission cannot be counted in one day because the local market is too small and the companies that trade do not exceed five.

“Listed companies may re-launch their trading tomorrow,” said Mahmassani.
Reported by Rania Ghanem
Date Posted: Oct 01, 2015
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