BLOM Stock Index falling alongside Solidère Prices

 2/12/202225/11/2022% Change
BLOM Stock Index1,299.3301,327.810-2.14%
Average Traded Volume117,88453,890118.75%
Average Traded Value4,521,6062,347,61992.60%

This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded a contraction of 2.14% to reach 1,299.330 on December 2nd, 2022. The market capitalization on the Beirut Stock Exchange (BSE) dropped weekly from $13.60B to $13.32B. The average volume and value of trades also totaled 117,884 shares worth $4,521,606 compared to 53,890 shares worth $2,347,619 last week, with the largest trades taking place on December 2nd, 2022.

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 98.68%, while the banking sector and the industrial sector grasped the remaining of 1.19% and 0.13%, respectively. The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares dropped by 4% to settle at $53.95/share
  • Solidere (B) shares dropped by 0.91% to settle at $54.25/share
  • HOLCIM shares dropped by 3.13% to settle at $31/share
  • BLOM GDR dropped by 7.14% to settle at $2.6/share
  • Audi GDR dropped by 3.36% to settle at $1.44/share
  • Audi Listed increased by 0.71% to settle at $1.42/ share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 41.01 by December 2, 2022.

In the Arab region, major Arab bourses recorded overall a better performance this week. The MSCI index increased remarkably by 3.46%; whereas the S&P Pan Arab index slightly decreased by 0.16%, compared to last week. Moreover, Bourse of Egypt and Morocco added 6.73% and 1.93% respectively, by the end of this week. Meanwhile, the bourse of Saudi Arabia, Tunisia and Kuwait dropped by 1.06%, 0.57% and 0.29% respectively by the end of this week.

The US equity market recorded a positive momentum this week amid market expectations regarding slow interest rate hikes by the Federal Reserve. As such, S&P 500 and NASDAQ respectively rose by 1.22% and 1.75% on a weekly basis to stand at 4,076.57 and 11,482.45 by Friday December 2nd, 2022. The investors held an optimistic sense this week with risk appetite on the rise due to solid performance and a rally in bonds despite a cooler labor market.

In Europe, equity market posted an overall positive record by the end of week, on December 2nd, 2022. In fact, CAC 40 registered an uptick of 0.4% to stand at 6739.48, whereas DAX Germany slightly fell by 0.03% to stand at 14,522.61. Noting that in the Euro area, the unemployment rate fell to a record low of 6.5% in October (vs. 6.6% expected). In the same token, the FTSE 100 increased by 0.82% from 7,482.87 to 7544.60 by Friday. As for Japan, NIKKEI index recorded a weekly downturn of 1.79% to end up the week at 27,777.9.

Leave a Reply

Your email address will not be published. Required fields are marked *