Most Markets Rallied This Week Awaiting US Nonfarm Payroll Data Today
| 06/12/2024 | 29/11/2024 | % Change | |
| BLOM Stock Index | 2,139.22 | 2,146.69 | -0.35% |
| Average Traded Volume | 89,111.60 | 65,675.60 | 35.68% |
| Average Traded Value | 4,910,508.40 | 2,167,201.80 | 126.58% |
| Market Cap | 21,925,215,687.70 | 22,001,726,730.20 |
The BLOM Stock Index (BSI) compiled by BLOM Invest Bank daily declined weekly by 0.35% to 2,139.22 points on December 6th, 2024.
On the Beirut Stock Exchange (BSE), the real estate sector dominated trading, accounting for 98.196% of the exchange’s total trading value, while the remaining were by the banking sector (1.404%) and industrial sector (0.4%). The most noteworthy trades throughout the mentioned period included:
| 06/12/2024 | 29/11/2024 | % Change | |
| Solidere A | 90 | 93.35 | -3.59% |
| Solidere B | 90 | 94.1 | -4.36% |
| HOLCIM Liban (prev.SCL) | 70.1 | 67.5 | 3.85% |
| CB (N) | 39.5 | 36.02 | 9.66% |
| Audi Listed | 2.39 | 1.97 | 21.32% |
| Byblos (C) | 1.06 | 0.98 | 8.16% |
| BLOM Listed | 7 | 6.3 | 11.11% |
| 06/12/2024 | 29/11/2024 | % Change | |
| BLOM Preferred Shares Index | 27.78 | 27.78 | 0% |
As for the BLOM Preferred Shares Index (BPSI), it remained constant at 27.78 on December 6th, 2024.
| Index | Currency | 06/12/2024 | 29/11/2024 | % Change |
| S&P 500 | USD | 6,075.11 | 6,032.38 | 0.71% |
| Dow Jones | USD | 44,765.71 | 44,910.65 | -0.32% |
| NASDAQ Comp | USD | 19,700.72 | 19,218.17 | 2.51% |
*Prices are as of the time of writing this report
US stock markets fluctuated over the course of the week. S&P 500 and NASDAQ increased by 0.71% and 2.51% respectively recording 6,075.11 and 19,700.72 while Dow Jones decreased by 0.32% reaching 44,765.71. On Wednesday, Federal Reserve Chair Jerome Powell stated in the New York Dealbook summit that the US economy is “remarkably in good shape” and the Fed will be cautious in rate cut as the economy is still facing inflationary pressures. Moreover, initial jobless claims increased more than the forecasts to record 224,000. US markets are currently awaiting today’s nonfarm payrolls report that will influence Fed’s decision regarding rate cut in December with a 74% probability for a 25-basis-point reduction at December’s meeting.
| Index | Currency | 06/12/2024 | 29/11/2024 | % Change |
| DAX | EUR | 20,424.45 | 19,626.45 | 4.07% |
| FTSE 100 | GBP | 8,345.99 | 8,287.30 | 0.71% |
| CAC 40 | EUR | 7,417.40 | 7,235.11 | 2.52% |
| STOXX600 | EUR | 520.79 | 510.25 | 2.07% |
*Prices are as of the time of writing this report
Across the Atlantic, main European stock markets rallied over the course of the week despite the political turmoil in France. DAX of Germany led the increase by 4.07% followed by CAC 40 by 2.52% and European STOXX 600 witnessed a 2.07% increase. Lawmakers in France voted no-confidence for French government after the Prime Minister Michel Barnier. It is the first time since 1962 that a French government fell due to such a motion and led France to political turmoil leaving the parliament in a deadlock until new elections in July.
| Index | Currency | 06/12/2024 | 29/11/2024 | % Change |
| NIKKEI | JPY | 39,091.17 | 38,208.03 | 2.31% |
| Hang Seng | HKD | 19,865.85 | 19,423.61 | 2.28% |
| Shanghai Comp | CNY | 3,404.08 | 3,326.46 | 2.33% |
*Prices are as of the time of writing this report
Asians stock markets increased in the week ending December 6th, 2024. Chinese equities led the increase by 2.33% to reach 3,404.08 despite the concerns of the challenges faced by Chinese economy and the escalating trade tensions with the US. November PMI showed expansion of China’s manufacturing sector for the second month in a row. Furthermore, traders are awaiting the upcoming Central Economic Work Conference that will outline China’s 2025 economic targets.
| Index | Currency | 06/12/2024 | 29/11/2024 | % Change |
| MSCI Emerging Market | USD | 1,102.29 | 1,078.57 | 2.20% |
*Prices are as of the time of writing this report
As for the MSCI Emerging Market index, it rose this week by 2.20% to record 1,102.29 points.
| Index | Currency | 06/12/2024 | 29/11/2024 | % Change |
| S&P Pan Arab | USD | 977.36 | 963.14 | 1.48% |
| EGX30 – Egypt | EGP | 30,839.57 | 30,242.13 | 1.98% |
| Saudi Stock Exchange | SAR | 11,931.85 | 11,641.31 | 2.50% |
| Qatar Stock Exchange | QAR | 10,391.75 | 10,417.82 | -0.25% |
| Abu Dhabi Securities Exchange | AED | 9,268.67 | 9,234.80 | 0.37% |
| Dubai Financial Market | AED | 4,844.30 | 4,847.34 | -0.06% |
*Prices are as of the time of writing this report
Most Arab stock markets rallied in line with the global trend except for the Dubai Financial Market and Qatar Stock Exchange that dropped by 0.06% and 0.25% respectively to record 4,844.30 and 10,391.75.
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