Stocks
Strong Week for US Stock Market as Gains Mount
Major U.S. stock indexes experienced a shaky start to the week, rebounded following Friday’s jobs report, but ultimately closed with losses. The Dow saw its weekly performance decline by approximately 1%, while the S&P 500 and NASDAQ suffered even greater losses, with both posting a weekly drop of over 2%.
The growth in the U.S. labor market showed signs of moderation, as it added 187,000 new jobs in July. Although this number fell short of the estimated 200,000, it was consistent with June’s revised gain of 185,000. The unemployment rate also decreased to 3.5%, maintaining its proximity to the 50-year low.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 417 points, reaching a closing value of 13,909 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 69 points to settle at 4,409 points. Meanwhile, DJIA Index experienced a notable surge, adding by 1,338 points during the week and concluding at 35,065 points after a week of gains.
In contrast, Russell 3000 Index saw a gain in week performance, with a gain of 88 points to reach 2,578 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable gain of 136 points, ending the week at a steady 1,957 points.
One of the Listed companies, Union Insurance Co. Limited has recommended 10% Cash Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported EPS of Tk. 1.81 for the year ended December 31, 2023. NAV per share of Tk. 17.47.
The Annual General Meeting (AGM) of the company will be held on September 2, through the digital platform. The record date for this has been fixed at June 25.
Q1 Financials: The company’s earnings per share (EPS) was Tk 0.66 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 0.89 paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s net asset value (NAV) per share stood at Tk 18.13.
One of the listed companies, Bata Shoe Bangladesh Limited discloses its financial reports for the first quarter, (January – March 24).
The company’s earnings per share (EPS) was Tk 13.42 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 9.96 (restated) paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s net asset value (NAV) per share stood at Tk 251.35.
One of the listed companies, One Bank PLC discloses its financial reports for the first quarter, (January – March 24).
The company’s Consolidated earnings per share (EPS) was Tk 0.40 paisa in Q1 of the current financial year (January – March 24). Consolidated EPS was Tk 0.27 (restated) paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s Consolidated net asset value (NAV) per share stood at Tk 19.39.
