Regional equity markets

Beirut SE   Current year high: 1,039.30    Current year low: 842.04 >  Review period:  Closed July 24 at 886.92 points   Period Change: +0.27% The traditional post-government formation rally failed to materialise. Instead, markets toiled under the weight of local and regional worries as Moody’s changed its outlook on four of the largest Lebanese banks to negative and domestic economic indicators weakened. Indictments issued by the Special Tribunal on Lebanon plus ongoing turbulence in neighboring Syria and in Egypt made the BSE performance look almost Phoenix-like, with Solidere rebounding to neutral territory and Bank Audi reporting a 9.3% increase in second quarter profits. Amman SE   Current year high: 2,477.99                Current year low: 2,083.56 >  Review period:  Closed July 25 at 2,090.18 points            Period Change: -0.16% Amman’s financial markets welcomed long-awaited stability following months of losses. The country’s focus shifted to securing energy supplies after the Arab Gas Pipeline bringing cheap Egyptian gas