Political risk is back with a vengeance as far as Lebanon's benchmark stock index goes, falling by the largest margin since July as the the year-old unity government collapsed. The BLOM closed 3.22 per cent lower at 1488.
The development -- triggered by Hezbollah’s withdrawal from the administration on Wednesday -- came as Tunisia and Algeria were both rocked by widespread rioting amid protests over food price rises and unemployment.
Solidere SAL, as the largest publicly traded company in Lebanon, was the markets’ whipping boy, falling by 9 per cent -- the most since 2008. From Reuters:
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