Equity Market Ended Higher with Favorable US Inflation Rate

11/11/20224/11/2022% Change
BLOM Stock Index                    1,337.243                    1,338.734-0.11%
Average Traded Volume                         16,883                         28,095-39.91%
Average Traded Value                       566,553                       667,701-15.15%

This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a decrease of 0.11% to reach 1,337.243 on November 11, 2022. The market capitalization on the Beirut Stock Exchange (BSE) fell weekly from $13.72B to $13.705B. The average volume and value of trades also totaled 16,883 shares worth $566,553 compared to 28,095 shares worth $667,701 last week.

On the Beirut Stock Exchange (BSE), the real estate sector grasped the lion’s share of the BSE’s trading value with a stake of 95.22%, while the banking sector and the industrial sector grasped the remaining of 2.96% and 1.83%, respectively. The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares decreased by 1.42% to settle at $55.6/share
  • Audi GDR increased by 6.43% to settle at $1.49/share
  • Audi listed increased by 6.45% to settle at $1.65/share
  • Byblos Listed shares decreased by 5% to settle at $0.6/share
  • BEMO listed shares increased by 9.09% to settle at $1.2/share
  • Ciments Blanc N jumped by 15% to settle at $10.35/share

As for the BLOM Preferred Shares Index (BPSI), it decreased from 41.02 to 41.01 by November 11, 2022.

In the Arab region, major Arab bourses recorded insignificant changes this week. The S&P Pan Arab index decreased by 0.37%, whereas the MSCI index increased by 0.52%, compared to last week. Moreover, Bourse of Tunisia and UAE ADX added 12.93% and 4.56% respectively, by the end of this week. Meanwhile, the bourse of UAE DFM dropped by 5.03% by the end of this week.

In the US market, major indexes in the Wall Street re-picked by the end of this week driven by positive GDP in the U.S. The equity market generally moves inversely to the bond yields as lower bond yields indicate lower risks on the horizon. As such, the S&P 500 increased by 4.93% on a weekly basis to stand at 3,956.37 by Friday November, 11, 2022, while NASDAQ index followed the same trend and added 6.1% to reach 11,114.15 for the same period.

In Europe, equity market posted a positive record by the end of week 11, November 2022. In fact, DAX index and CAC 40 registered an uptick of 6.69% and 2.79%, respectively, to stand at 14,241.37 and 6,595.2 respectively by November 11, 2022 up from last week 13,347.88 and 6416.44. In the same token, the FTSE 100 increased by 0.95% from 7282.02 to 7,351.17 by Friday after the selection of new Prime Minister Rishi Sunak. As for Japan, NIKKEI index recorded a weekly slight uptick of 3.91% to end up the week at 28,263.57. All in all, it was a good week for equity markets.

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