US Stock Market Expanded Over the Course of the Week

The BLOM Stock Index (BSI) compiled by BLOMInvest Bank on a daily basis slightly declined weekly by 0.46% to reach 1,612.08 on June 28^th, 2024 down from 1,619.6 on June 21^st, 2024. Similarly, the market capitalization on the Beirut Stock Exchange (BSE) fell weekly from $16.6B to $16.52B. The average volume and value of trades also totaled 22,694 shares worth $1,567,696 compared to 32,779 shares worth $1,091,155 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 83.14%, the industrial sector grasped 15.43%, while the banking sector grasped the remaining 1.43%. The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares dropped by 0.65% to settle at $69.05 / share
• Byblos Listed shares fell by 10% to settle at $0.63 / share
• Holcim shares fell by 1.61% to settle at $61 / share
• Ciments Blancs (N) rose by 9.38% to settle at $35 / share

As for the BLOM Preferred Shares Index (BPSI), it remained constant at 35.15 by June 28^th, 2024.

The Arab stock market fluctuated this week as S&P Pan Arab rose by 1.56% to stand at 936.05 while MSCI declined by 0.07% to stand at 1,086.2 by the end of this week. Moreover, the bourse of Egypt, Qatar, and Saudi Arabia expanded respectively by 5.11%, 2.67% and 2.01% while bourse of Kuwait and Tunisia contracted respectively by 1.01% and 0.02% by June 28^th, 2024.

The US market expanded this week as S&P 500 and NSADAQ rose respectively by 0.33% and 0.96% to stand at 5,482.87 and 17,858.68 points by June 28^th, 2024 compared to the previous week. Europe’s stock markets fluctuated this week as DAX Germany rose by 0.85% to reach 18,318.35, while CAC 40 France and FTSE 100 Britain declined respectively by 1.64% and 0.16% to stand at 7,503.11 and 8,224.51 points by June 28^th, 2024 compared to the previous week. Furthermore, NIKKEI Japan rose by 2.56% to reach 39,583.08 points by June 28^th, 2024 compared to the previous week.

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