BSI Expanded Over the Course of the Week

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis increased weekly by 2.08% to reach 1,629.95 on July 12^th, 2024 up from 1,596.7 on July 5^th, 2024. Similarly, the market capitalization on the Beirut Stock Exchange (BSE) rose weekly from $16.36B to $16.71B. The average volume and value of trades also totaled 84,079 shares worth $1,924,532 compared to 33,805 shares worth $1,512,740 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 97.75%, while the banking sector grasped the remaining 2.25%. The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares rose by 3.56% to settle at $69.9 / share
• Solidere (B) shares rose by 2.16% to settle at $71 / share
• BLOM GDR shares dropped by 12.64% to settle at $3.04 / share
• BEMO Listed shares increased by 0.81% to settle at $1.25 / share
• Audi Listed shares increased by 4.05% to settle at $1.54 / share

As for the BLOM Preferred Shares Index (BPSI), remained 31.8 by July 12^th, 2024.

The Arab stock market rose this week as S&P Pan Arab and MSCI rose by 1.17% and 0.57% to stand at 945.17 points and 1,111.22 points by the end of this week. Moreover, the bourse of Kuwait, Tunisia, and Qatar expanded respectively by 1.97%, 1.3%, and 1.03% while bourse of Egypt contracted by 0.27% by July 12^th, 2024.

The US market fluctuated this week as S&P 500 expanded by 0.31% to stand at 5,584.55 points while NASDAQ contracted by 0.38% to reach 18,283.41 points by July 12^th, 2024, compared to the previous week.

Europe’s stock markets expanded this week again. DAX Germany and CAC 40 France rose respectively by 0.65% and 0.07% compared to the previous week to reach 18,596.22 points and 7,681.16 points by July 12^th, 2024, due to investors’ optimism ahead of the upcoming corporate earnings. FTSE 100 Britain rose by 0.51% to reach 8,246.04 points by July 12^th, 2024 compared to the previous week driven by positive economic data and growing expectation of interest rate cuts by the Federal Reserve in September after the surprising decrease in US inflation rate in June.

Furthermore, NIKKEI Japan increased by 0.68% to reach 41,190.68 points by July 12^th, 2024 compared to the previous week.

Disclaimer :

This article is a research document that is owned and published by Blominvest Bank SAL.

No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of Blominvest Bank SAL.

The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither Blominvest Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.

Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.

This research article is prepared for general circulation and is circulated for general information only.