The live entertainment company led stocks this week on the Billboard Global Music Index, which improved 0.5% to 1,355.68 for a year-to-date gain of 16.1%.
RelatedOverall, the Billboard Global Music Index rose 0.5% to 1,355.68, bringing the year-to-date gain to 16.1%. In a subdued week for stocks, 12 of the index’s 21 stocks finished the week in positive territory while 14 stocks fell within three percentage points of breaking even. Led by Sphere’s gain and aided by Live Nation’s 3.6% improvement, live music stocks had an average weekly gain of 2%, while labels and publishers lost an average of 0.6%.
In the United States, two closely followed indexes were slightly down this week: The S&P 500 dropped 0.2% and the Nasdaq composite fell 0.4%. In the United Kingdom, the FTSE 100 improved 3.1%, while South Korea’s KOSPI composite index gained 2.1%.
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