The Beirut Stock Exchange entered 2006 with its most auspicious start since reopening a decade ago. Trading volumes soared to new heights and the Blom Index rallied by about 50% in January. Backed by regional investor appreciation, shares of the big banks and of Solidere reached valuations that had been fanciful theories in earlier years. Banks Audi and BLOM used the felicitous time for capital increases, issuing new shares and GDRs; other companies enthused about IPO opportunities. The Beirut market lost some of its verve in the spring time crash season of regional bourses, but suffered less than its peers in the GCC. It took a war between Israel and Hizbullah to create a trough in July and August, and further hideous political assaults by forces unknown and known to drive the index in November 2006 below year-end 2005 levels. Beirut SE: Blom (1 year)Current Year High: 1,934.21 Current Year