Global markets witnessed a rough week as all the leading indexes closed in negative territory on the back of disappointing economic indicators from slowest US hiring in more than a year to slump in Chinese exports and decline in German factory orders.
Oil prices also closed on a negative as the Brent was down by almost 2.0% on the back of concerns over global growth outlook.
For the regional markets, the sentiments were negative across the indexes with the exception of Egypt. Abu Dhabi was the worst performer with losses of 4.3%, followed by 1.6% in Dubai. Egypt was the only index to remain in positive territory with gains of 0.7%, while Kuwait was flat during the week.
Given that the markets are unlikely to witness any positive triggers in the coming week, trading activity is likely to remain subdued.
|Indexes||Last||WTD (%)||MTD (%)||YTD (%)|
|Abu Dhabi (ADSMI)||▼||4,914.39||-4.3%||-4.3%||0.0%|
|Commodities||Value||WTD (%)||MTD (%)||YTD (%)|
|OPEC Oil ($/bl)||▲||65.74||1.0%||-0.4%||22.2%|
|FX Rates||Value||WTD (%)||MTD (%)||YTD (%)|
About Allied Investment Partners PJSC
Established in 2007, Allied Investment Partners PJSC is licensed by Central Bank of the UAE and Securities and Commodities Authority, and is a leading investment firm providing various services like Asset Management, Alternative Investments, Wealth Management, Securities and Custody Services, Corporate Finance and Investment Banking Advisory.