Regional Markets Set for Subdued Trading Activity

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International markets ended last week’s trading on a mixed note with trade tensions and the G7 meeting in Canada being the main focus for investors.

Oil prices fell on the last day of the week, but on a weekly basis the black gold was traded around the same levels – Brent crude ended the week at USD 76.46 per barrel, while WTI crude at USD65.74 per barrel.

On the regional front, most of the indices ended the week on a positive note except for Egypt, Bahrain and Oman. Dubai was the best performing index among its peers ending the week up by 2.6%, followed by Saudi Arabia with gains of 2.2%, followed by Abu Dhabi and Kuwait with a positive performance of 1.2% and 0.4%, respectively.

Egypt came in as the worst performer among its peers with weekly losses of 3.0%. Bahrain and Oman continued their negative trend with losses of 0.2% each for the week, extending their YTD losses to -5.1% and -9.9%, respectively.

The coming period will be affected by the upcoming holiday season which would translate in a subdued trading activity for the regional markets.

 

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,041.72 2.62% 2.62% -9.74%
Abu Dhabi (ADSMI) 4,662.58 1.25% 1.25% 6.01%
Saudi (SASEIDX) 8,344.39 2.25% 2.25% 15.47%
Kuwait (KWSE) 4,837.41 0.43% 0.43% 3.25%
Egypt (EGX30) 15,923.66 -2.99% -2.99% 6.02%
Bahrain (BHSEIDX) 1,263.79 -0.16% -0.16% -5.10%
Oman (MSM30) 4,596.51 -0.22% -0.22% -9.86%
TR GCC (Reuters) 199.08 2.48% 2.48% 4.20%
TR MENA 138.63 2.28% 2.26% 4.52%

 

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