BSI down by 2.37% by the end of week  

 

17/5/202410/5/2024% Change
BLOM Stock Index1,595.8391,634.504-2.37%
Average Traded Volume3,7521,130232.04%
Average Traded Value254,52978,100225.90%

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis decreased weekly by 2.37% to reach 1,595.839 on May 17th, 2024 down from 1,634.504 on May 10th, 2024. Similarly, the market capitalization on the Beirut Stock Exchange (BSE) decreased weekly from $16.75B to $16.36B. The average volume and value of trades also totaled 3,752 shares worth $254,529 compared to 1,130 shares worth $78,100 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 99.56%, the industrial sector grasped 0.24%, while the banking sector grasped the remaining 0.2%. The most noteworthy trades throughout the mentioned period included:

  • Solidere (A) shares fell by 3.07% to settle at $67.85 / share
  • Solidere (B) shares fell by 4.42% to settle at $65.95 / share
  • Byblos Listed shares rose by 5.77% to settle at $0.55 / share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 35.15 by May 17th, 2024.

The Arab stock market fluctuated this week as S&P Pan Arab dropped by 0.6% to stand at 953.73 points while MSCI rose by 1.21% to stand at 1,084.65 points by the end of this week. Moreover, the bourse of UAE, Saudi Arabia and Morocco contracted respectively by 2.66%, 0.7%, and 0.66% while bourse of Kuwait, Qatar, and Egypt expanded respectively by 1.44%, 0.72% and 0.54% by May 17th, 2024.

In the US, S&P 500 and NASDAQ expanded respectively by 1.42% and 2.19% to stand at 5,297.1 and 16,698.32 points by May 17th, 2024 compared to the previous week.

As for Europe’s stock markets, many indexes are contracting compared to last week. The CAC 40 witnessed a 0.82% decrease and recorded 8,151.84 points on Friday.

The FTSE 100 declined on Friday and recorded 8,433.76 points, dropping by 0.27% from last week, ahead of the comment of Bank of England’s (BoE) monetary policy panel member Catherine Mann later today. Money markets are anticipating a 60bps interest rate cut in 2024 starting from August.

As for DAX Germany, it dropped by 0.51% and recorded 18,676.24 on Friday May 17th, 2024. Traders are evaluating the monetary policy outlook in which European Central Bank (ECB) member Schnabel mentioned that the central bank should be careful regarding rate cuts past June.

As for NIKKEI, it rose by 1.46% to reach 38,787.38 points.

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