BSI up by the end of the third week of April

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis increased weekly by 0.13% to reach 1,694.427 on April 19^th, 2024 up from 1,692.302 on April 15^th, 2024. Similarly, the market capitalization on the Beirut Stock Exchange (BSE) increased weekly from $17.34B to $17.37B. The average volume and value of trades also totaled 24,985 shares worth $1,752,115 compared to 4,597 shares worth $298,405 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 85.89%, the industrial sector grasped 13.98% of the shares, while the banking sector grasped the remaining shares of 0.13%. The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares increased by 0.4% to settle at $74.4/ share
• Solidere (B) shares increased by 0.41% to settle at $73.8/ share
• HOLCIM shares declined by 3.23% to settle at $60/ share
• Byblos listed shares rose by 3.57% to settle at $0.58 / share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 35.15 by April 19^th, 2024.

The Arab stock market contracted this week as S&P Pan Arab dropped by 1.56% to stand at 974.94 points by the end of this week. Similarly, MSCI declined by 1.77% to stand at 1,012.46 points by the end of this week.

Moreover, the bourse of UAE, Kuwait and Saudi Arabia contracted respectively by 2.07%, 1.77% and 1.3% while bourse of Morocco expanded by 1.38% by April 19^th, 2024.

In the US, S&P 500 contracted by 1% to stand at 5,011.12 points by April 19^th, 2024 compared to the previous week. As for Europe’s stock market, DAX Germany, CAC 40 France and FTSE 100 Britain contracted respectively by 1.72%, 0.7% and 1.64% to stand at 17716.62, 7988.79, and 7835.1 points by April 19^th, 2024. Similarly, NIKKEI contracted by 5.52% by the end of the week to stand at 37,068.35 points by April 19^th, 2024. The decrease was mainly due to the increased tension in the Middle East following the attacks between Iran and Israel in addition to the commentaries of Federal Reserve officials regarding interest rate cuts.

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