Traders on Alert Pending Easier Policy by Fed

This week, the BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis recorded an expansion of 0.41% to reach 1,304.626 on December 9, 2022. The market capitalization on the Beirut Stock Exchange (BSE) increased weekly from $13.31B to $13.37B. The average volume and value of trades also totaled 132,583 shares worth $2,155,150 compared to 117,884 shares worth $4,521,606 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 93.41%, while the banking sector and the industrial sector grasped the remaining of 6.53% and 0.05%, respectively. The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares added 0.74% to settle at $54.35/share
• Solidere (B) shares dropped by 0.46% to settle at $54/share
• BLOM (GDR) shares dropped by 3.85% to settle at $2.50/share
• BLOM listed shares jumped by 4.83% to settle at $3.04/share
• Audi GDR retreated by 2.78% to settle at $1.40/share
• Audi Listed increased by 2.11% to settle at $1.45/ share
• Ciments Blancs shares contracted by 4.64% to settle at $11.50/share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 41.01 by December 9, 2022.

In the Arab region, major Arab bourses recorded overall a worst performance this week. The S&P Pan Arab index dropped remarkably by 4.15% while the MSCI index slightly decreased by 0.93% compared to last week. Moreover, Bourse of Egypt, Morocco, and UAE added 8.79%, 2.66%, and 0.03% respectively, by the end of this week. Meanwhile, the bourse of Saudi Arabia, Qatar and Kuwait dropped by 5.32%, 4.40% and 1.67% respectively by the end of this week.

As for the US equity market, it recorded a negative momentum as traders are closely watching the upcoming release of the US producer price index on Friday which would represent an indication of the Fed’s initiative to defeat the rising inflation. As such, S&P 500 and NASDAQ, respectively dropped by 2.77% and 3.49% on a weekly basis to stand at 3,963.51 and 11,082 by Friday December 9, 2022.

The same for Europe, equity market traded on a negative territory by the end of week. In details, DAX registered a drop of 1.46% to stand at 14,310.31, whereas CAC 40 slightly fell by 1.33% to stand at 6,649.52. In the same token, the FTSE 100 declined by 1.08% from 7544.60 to 7,463.08 by Friday, December 9, 2022, contrary to NIKKEI index which recorded a weekly upturn of 0.44% to end up the week at 27,901.01.