Global stocks fell last week, following losses on Wall Street as investors fled the markets due to the Federal Reserve’s commitment to its rate hike plan to tame inflation. The MSCI World Index fell about 5%, worse than the major Wall Street indexes. The Dow Jones hit a new low for the year and closed below 30,000 for the first time since June 17 – 1.62% lower. The S&P 500 slid 1.72%, while the Nasdaq Composite fell 1.8%. However, some stocks in the MSCI World Index outperformed the broader market. These were the 12 best-performing stocks in the MSCI World Index that posted gains of more than 5% last week, as of the September 23 close. But two stocks stood out, beating larger losses by a mile. One is Fortum, a Finnish energy company, which claims to focus on producing cleaner energy. It jumped 25.6% last week. The company said earlier this month it had secured a bridging loan from Finnish government investment firm Solidium for 2.35 billion euros ($2.34 billion) to cover growing needs. as collateral, according to Reuters. This development is taking place amid an energy crisis in Europe after Russia shut down the main Nord Stream 1 gas pipeline. Fortum also announced in mid-September that it planned to add 560 megawatts of capacity to the Nordic market. electricity after October by reactivating an inactive coal-fired power plant on the west coast of Finland, according to Reuters. It’s a favorite of the majority of analysts covering the stock, with 67% rating it a buy, according to FactSet. They gave him an average price target of 16.01 euros, an increase of around 15%. The other stock that was one of the best performers last week was Swedish security firm Securitas, which jumped 16.3%. The world’s largest publicly listed security services provider earlier reported a slightly bigger-than-expected rise in second-quarter profit – boosted by demand to restore airport security in Europe.
