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 (%)|
|Abu Dhabi (ADSMI)||4,662.58||1.25%||1.25%||6.01%|
|TR GCC (Reuters)||199.08||2.48%||2.48%||4.20%|