The Damascus stock market index continued to rise for the second week running on the back of rising demand for banking stocks.
A ten percent surge in the price of the SIIB stock enabled the main index of the Syrian securities exchange to rise last week for the first time in almost six months.
Syria’s stock market began the year as it closed last, with an uninterrupted decline in prices.
Bank Al-Sharq has announced the second resignation in as many months of one of its directors.
Trading in banking stocks helped increase the total volume of trading in the Damascus Securities Exchange last week to levels not seen since March.
Stocks continued to lose ground in the Damascus Securities Exchange over the week while trading volumes reached SYP 6.1 million.
The Syrian Prime Minister has appointed the five remaining members of the board of directors of the Damascus Securities Exchange.
Al-Aqeelah Takaful Insurance has appointed a new general manager.
The Damascus Securities Exchange extended this week its losing streak to twenty sessions in a row.
Bank Al-Sharq has announced the resignation of one of its board members.
Trading in two banking stocks increased sharply the volume of transactions at the Damascus bourse last week although this did not prevent the continued decline in prices.
Syria’s stock exchange index declined 0.20 percent last week amid very limited trade.
Syria’s stock exchange index fell for the first time below the 800 mark last week as trading continued to remain limited to a handful of stocks.
Syria’s stock exchange index lost 43 percent this week and comes close to falling below the 800 mark.
The balance sheet of Bank Audi Syria continued to decline in the third quarter as the bank posted a pre-tax loss in the first nine months of the year.