Global Equity Markets Expanded this Week

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis dropped weekly by 1.28% to reach 1,606.779 on November 17^th, 2023 up from 1,627.656 on November 10^th, 2023. Meanwhile, the market capitalization on the Beirut Stock Exchange (BSE) declined weekly from $16.61B to $16.47B. The average volume and value of trades also totaled 9,592 worth $460,484 compared to 16,532 worth $873,258 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 98.4%, while the banking sector grasped the remaining shares of 1.6%.  The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares dropped by 2.3% to settle at $68/ share
• Solidere (B) shares rose by 0.38% to settle at $66.25/ share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 39.62 by November 17^th, 2023.

The Arab stock market expanded this week as S&P Pan Arab and MSCI rose respectively by 1.89% and 2.67% to stand at 919.2 and 983.51 by the end of this week. Moreover, the bourse of Saudi Arabia, Qatar and UAE expanded respectively by 2.23%, 2.45% and 1.66% while bourse of Egypt contracted by 0.41% by November 17^th, 2023.

Similarly, in the US, S&P 500 and NASDAQ expanded respectively by 3.7% and 4.38% to stand at 4,508.24 and 14,113.67 points by November 17^th, compared to the previous week. Indeed, US inflation eased to 3.2% in October, down from 3.7% a month earlier and investors are hopeful that the Fed will get started on lowering rates sooner rather than later in 2024.

As for Europe’s stock market, DAX Germany, CAC France and FTSE 100 Britain rose respectively by 4.55%, 2.84% and 1.65% to stand at 15,923.83, 7230.66 and 7478.05 points by November 17^th. Similarly, in Japan, NIKKEI expanded by 3.12% by the end of the week to stand at 33,585.2 points by November 17^th.