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 0.95% to reach 1,596.7 on July 5^th, 2024 down from 1,612.08 on June 28^st, 2024. Similarly, the market capitalization on the Beirut Stock Exchange (BSE) fell weekly from $16.52B to $16.36B. The average volume and value of trades also totaled 33,805 shares worth $1,512,740 compared to 22,694 shares worth $1,567,696 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 97.91%, while the banking sector grasped the remaining 2.09%. The most noteworthy trades throughout the mentioned period included:

• Solidere (A) shares dropped by 2.24% to settle at $67.5 / share
• Solidere (B) shares rose by 0.72% to settle at $69.5 / share
• BLOM GDR shares rose by 7.08% to settle at $3.48 / share
• BEMO Listed shares rose by 3.33% to settle at $1.24 / share
• Audi Listed shares fell by 1.33% to settle at $1.48 / share
• BLC Preferred D shares dropped significantly by 94.96% to settle at $3 / share

As for the BLOM Preferred Shares Index (BPSI), it decreased by 9.53% to record 31.8 by July 5^th, 2024.

The Arab stock market fluctuated this week as S&P Pan Arab dropped by 0.35% to stand at 933.89 while MSCI rose by 0.97% to stand at 1,092.38 by the end of this week. Moreover, the bourse of UAE and Qatar expanded respectively by 1.42% and 1.12% while bourse of Saudi Arabia and Morocco contracted respectively by 0.6% and 0.5% by July 5^th, 2024.

The US market expanded this week as S&P 500 and NSADAQ rose respectively by 1.4% and 2.57% to stand at 5,537.02 and 18,188.3 points by July 5^th, 2024 compared to the previous week. Europe’s stock markets expanded this week after French and British election results as DAX Germany, CAC 40 France and FTSE 100 Britain rose by 2.1%, 3.31%, and 1.14% respectively to reach 18,617.75 points, 7,727.2 points, and 8,257.19 points respectively by July 5^th, 2024 compared to the previous week. Furthermore, NIKKEI Japan increased by 3.36% to reach 40,912.37 points by July 5^th, 2024 compared to the previous week.

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