Sentiments of global markets expected to influence trading activity

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Global equity markets closed the week on a positive note on the back of optimism over progress in talks between the US and China. However, the equity markets brushed aside weaker than expected economic data released during the week as they believe that deal negotiations be-tween the US and China could positively support the global growth. Brent oil prices rose by nearly 2.0% during the week and 32.4% during the quarter to close at US$ 60.1 on Friday.

For the regional markets, the performance during the week was mixed as four out of eight indexes closed in green, while the remaining four closed in red. Kuwait performed positively with gains of 1.2% followed by 0.9% in Saudi Arabia, while Oman was the worst performing with losses of 3.5%, followed by 0.9% in Bahrain and 0.8% in Egypt.

Moving forward, the sentiments of global markets will influence the trading activity within the region but investors will focus on first quarter earnings to take directional positions post ex-dividend trading.

Indexes   Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 2,631.27 0.10% -0.17% 4.01%
Abu Dhabi (ADSMI) 5,101.00 -0.52% -0.72% 3.78%
Saudi (SASEIDX) 8,788.84 0.92% 3.49% 12.29%
Kuwait (KWSE) 4,872.21 0.11% -2.77% -1.36%
Egypt (EGX30) 14,665.81 -0.79% -0.93% 12.50%
Bahrain (BHSEIDX) 1,413.64 -0.88% 0.07% 5.71%
Oman (MSM30) 4,005.56 -3.54% -3.35% -7.36%
Commodities   Value WTD (%) MTD (%) YTD (%)
Gold (s/OZ) 1291.90 -1.62% -1.58% 0.71%
Silver ($/Oz) 15.14 -1.82% -3.00% -2.23%
WTI ($/bbl) 60.14 1.86% 5.10% 32.44%
Natural Gas 2.66 -3.31% -5.33% -9.46%
OPEC Oil ($/bl) 68.39 2.03% 3.57% 27.12%
Copper ($/MT) 6413.00 -1.59% -1.02% 6.29%
Aluminium ($/MT) 1914.03 -1.16% -0.18% 3.85%
FX Rates   Value WTD (%) MTD (%) YTD (%)
USD/AED 3.6728 0.00% 0.00% 0.00%
USD/SAR 3.7503 0.01% 0.01% 0.01%
USD/EGP 17.2800 0.35% 0.00% 0.00%
USD/EUR 0.8913 0.85% 1.04% 1.04%
USD/JPY 110.8400 0.85% -0.52% -0.52%

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