Most Global Equity Markets expanded this week

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis decreased weekly by 2.39% to reach 1,889.794 on February 16, 2024 down from 1,935.993 on February 08, 2024. Meanwhile, the market capitalization on the Beirut Stock Exchange (BSE) decreased weekly from $19,84B to $19,36B. The average volume and value of trades also totaled 38,636 worth $1,255,689 compared to 14,251 shares worth $781,982 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 96.11%, while the banking sector and industrial sector grasped the respective remaining shares of 1% and 2.48%.  The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares retreated by 3.30% to settle at $83.55/ share
• Solidere (B) shares dropped by 3.34% to settle at $83.85/ share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 39.62 by February 16, 2024.

The Arab stock market fluctuated this week as S&P Pan Arab increased by 1.96% to stand at 1,003.90 points while MSCI dropped by 0.10% to reach 998.86 points by the end of this week. Moreover, the bourse of UAE, Saudi Arabia, and Qatar expanded respectively by 2.40%, 2.31%, and 1.95% while bourse of Tunisia and Bahrain slightly contracted respectively by 0.10%,and 0.03% by February 16, 2024.

In the US, S&P 500 and NASDAQ expanded respectively by 0.69% and 0.95% to stand at 5,029.73 and 15,906.18 points by February 16, 2024 compared to the previous week. Indeed, US stocks’ Gains were fueled by optimism that a solid economy will continue fueling corporate profits despite inflation came higher than expected.

As for Europe’s stock market, DAX Germany, CAC 40 and FTSE 100 Britain expanded respectively, by 1.42%, 1.81% and 0.33% to stand at 17,182.91, 7790.27 and 7670.40 points by February 16, 2023. Elsewhere, NIKKEI expanded by 4.41% by the end of the week to stand at 38,487.24 points by February 16, 2024.