Lebanon’s stock market is due to open Monday for the first time since the Beirut port explosion on Aug. 4 as world leaders discuss emergency aid and anti-government protests gather strength.
The stock market has been closed since the blast that killed more than 150 people and injured over 6,000.
During a day of turmoil in Beirut Saturday, demonstrators managed to gain entry to several ministries as well as the Association of Banks. On the diplomatic front, French President Emmanuel Macron was co-hosting a video conference with the United Nations on Sunday to discuss aid for the country. The discussions counted on the participation of leaders including U.S. President Donald Trump.
As markets reopen, investors will be focusing on Solidere, the real-estate company that rebuilt part of Beirut after the civil war that ended in 1990. The shares, which trade in U.S. dollars, have jumped since last year as they became a hedge against surging inflation and the sliding Lebanese pound.
The stock is up 144% since the start of October, when protests in the city escalated, compared with a drop of 24% for the Blom Index. The Lebanese bourse’s market capitalization is about $5.4 billion, similar in size to the markets of Mauritius and Malta, according to data compiled by Bloomberg.
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