| 10/5/2024 | 3/5/2024 | % Change | |
| BLOM Stock Index | 1,634.504 | 1,667.605 | -1.98% |
| Average Traded Volume | 1,130 | 5,658 | -80.03% |
| Average Traded Value | 78,100 | 215,654 | -63.78% |
The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis decreased weekly by 1.98% to reach 1,634.504 on May 10th, 2024 down from 1,667.605 on May 3rd, 2024. Similarly, the market capitalization on the Beirut Stock Exchange (BSE) decreased weekly from $17.09B to $16.75B. The average volume and value of trades also totaled 1,130 shares worth $78,100 compared to 5,658 shares worth $215,654 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 98.59%, the banking sector grasped the remaining 1.41% of the shares. The most noteworthy trades throughout the mentioned period included:
As for the BLOM Preferred Shares Index (BPSI), it remained constant at 35.15 by May 10th, 2024.
The Arab stock market fluctuated this week as S&P Pan Arab dropped by 0.11% to stand at 959.79 points while MSCI rose by 0.49% to stand at 1,066.62 points by the end of this week. Moreover, the bourse of Saudi Arabia and Egypt contracted respectively by 0.55% and 0.42% while bourse of Morocco, UAE, and Kuwait expanded respectively by 1.79%, 0.98% and 0.86% by May 10th, 2024.
In the US, S&P 500 and NASDAQ expanded respectively by 1.68% and 1.18% to stand at 5,214.08 points and 16,346.27 points by May 10th, 2024 compared to the previous week.
As for Europe’s stock markets, many indexes are revealing improvements in which some of them are reaching new record levels.
The CAC 40 witnessed a 3.75% increase and recorded all-time high of 8,255.63 points on Friday preserving its sixth consecutive session winning streak backed up by optimistic outlooks driven by the expectation of reduced borrowing costs by main central banks.
The FTSE 100 traded at new record levels on Friday of 8,444.96 points, increasing by 2.82% from last week after Bank of England’s decision to keep interest rates due to GDP data beating forecasts. The British economy witnessed a 0.6% increase in Q1 and ending the country’s short-lived recession.
As for DAX Germany, positive corporate earnings and initiating interest rate cuts forecasts allowed DAX index to break new record levels of 18,800 and recorded 18,826.60 points with a weekly gain of 4.58%.
As for NIKKEI, it dropped by 0.02% to reach 38,229.11 points.
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