Global Equity Markets Fluctuated this Week


1/12/202324/11/2023% Change
BLOM Stock Index        1,621.392   1,647.419-1.58%
Average Traded Volume               6,187        80,705-92.33%
Average Traded Value           355,674      767,273-53.64%

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis dropped weekly by 1.58% to reach 1,621.392 on December 01, 2023 down from 1647.419 on November 24, 2023. Meanwhile, the market capitalization on the Beirut Stock Exchange (BSE) declined weekly from $16.88B to $16,61B. The average volume and value of trades also totaled 6,187 worth $355,674 compared to 80,705 worth $867,273 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 99.80%, while the banking sector grasped the remaining shares of 0.20%.  The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares dropped by 2.02% to settle at $68/ share
  • Solidere (B) shares retreated by 2.91 % to settle at $65.05/ share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 39.62 by December 01, 2023.

The Arab stock market expanded this week as S&P Pan Arab and MSCI rose respectively by 0.45% and 0.69% to stand at 922.36 and 987.10 by the end of this week. Moreover, the bourse of Saudi Arabia, Tunisia and UAE expanded respectively by 0.90%, 0.11% and 0.07% while bourse of Egypt contracted by 3.07%, Qatar and Morocco declined by 1.63% and 1.80% respectively by December 01, 2023.

Meanwhile, despite a positive Wall Street performance, Asian stocks mostly declined, reflecting cautious risk sentiment. Although China’s Manufacturing PMI surprisingly rose to 50.7 in November, it didn’t significantly impact markets. Sluggish factory activity in other key Asian regions due to weak global demand added to the tepid sentiment. Attention is now focused on Fed Chair Jerome Powell’s comments ahead of the December 12-13 policy meeting.

In the US, S&P 500 expanded respectively by 0.19% to stand at 4,567.8 while NASDAQ declined by 0.17% to reach 14,226.22 points by December 01, compared to the previous week.

As for Europe’s stock market, DAX Germany, CAC France and FTSE 100 Britain rose respectively by 1.86%, 0.62% and 0.13% to stand at 16,328.08, 7,338.01 and 7,497.97 points by December 01, 2023. In contrast, in Japan, NIKKEI contracted by 0.58% by the end of the week to stand at 33,431.51 points by December 01.





Leave a Reply

Your email address will not be published.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