Upcoming corporate earnings announcements will influence regional markets

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The global markets continued the positive momentum during the week on the back of optimism over a positive outcome from US-China trade talks. Trade talks outweighed the concerns of global growth as investors are hoping that a possible end to further escalations should support the global growth going forward.

Crude oil also recorded weekly gains of 5.4% after declining by 4.6% in the previous week.

For the regional markets, the sentiments were mostly negative as downward pressure in the real estate, banking and financial services sectors continue to weigh on sentiments. While Bahrain and Abu Dhabi ended in red with losses of 3.3% and 1.5% respectively, Egypt was the best performer with gains of 1.6%, followed by 0.7% in Kuwait.

Going forward, the regional markets will be driven by sentiments in global markets coupled with movement in oil prices. Further, upcoming corporate earnings announcements will also influence the movement in the regional markets.

Indexes   Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 2,533.61 -0.4% -1.3% 0.2%
Abu Dhabi (ADSMI) 5,036.42 -1.5% -0.2% 2.5%
Saudi (SASEIDX) 8,626.28 0.2% 0.8% 10.2%
Kuwait (KWSE) 4,796.37 0.7% -0.0% 1.2%
Egypt (EGX30) 14,984.46 1.6% 6.1% 14.9%
Bahrain (BHSEIDX) 1,371.98 -3.3% -1.4% 2.6%
Oman (MSM30) 4,109.34 -1.0% -1.4% -5.0%

 

Commodities   Value WTD (%) MTD (%) YTD (%)
Gold (s/OZ) 1321.01 0.5% 0.0% 3.0%
Silver ($/Oz) 15.78 -0.3% -1.8% 1.9%
WTI ($/bbl) 55.59 5.4% 3.3% 22.4%
Natural Gas 2.63 1.6% -6.7% -10.7%
OPEC Oil ($/bl) 66.25 6.7% 7.0% 23.1%
Copper ($/MT) 6109.5 -2.0% -0.6% 1.3%
Aluminium ($/MT) 1854 -1.8% -3.0% 0.6%

 

FX Rates   Value WTD (%) MTD (%) YTD (%)
USD/AED 3.673 0.0% 0.0% 0.0%
USD/SAR 3.75 0.0% 0.0% 0.0%
USD/EGP 17.49 -0.3% -0.8% -2.1%
USD/EUR 0.304 0.1% 0.4% 0.2%
USD/JPY 3.641 0.0% 0.0% 0.0%

 

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