Trading activity to be driven by movement in global markets, oil prices

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The global markets witnessed mixed sentiments during the week on the back of concerns over global growth and disappointing earnings season. Further, ongoing trade tensions between the US and China has not shown any progress, which weighed on investor sentiments during the week.

Crude oil was under pressure during the week as the prices dropped by 4.6%. However, prices have been higher by 16.1% since the start of 2019.

For the regional markets, the sentiments were mixed during the week with four of the eight indexes closing in green, while the remaining in red. On the positive side, Egypt was the best performer with gains of 4.4%, followed by 1.9% in Bahrain and 1.3% in Abu Dhabi. While Dubai and Kuwait ended in red with losses of 1.0% and 0.7% respectively

Going forward, the trading activity is expected to be driven by movement in global markets coupled with oil prices, which plays an important role for the regional markets. Further, the corporate earnings announcements during the week will also weigh on investor sentiment across the region.

Indexes   Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 2,542.67 -1.0% -1.0% 0.5%
Abu Dhabi (ADSMI) 5,112.15 1.3% 1.3% 4.0%
Saudi (SASEIDX) 8,612.84 0.6% 0.6% 10.0%
Kuwait (KWSE) 4,762.71 -0.7% -0.7% 0.5%
Egypt (EGX30) 14,753.68 4.4% 4.4% 13.2%
Bahrain (BHSEIDX) 1,418.10 1.9% 1.9% 6.0%
Oman (MSM30) 4,151.97 -0.3% -0.3% -4.0%

For the regional markets, the sentiments were mixed during the week with four of the eight indexes closing in green, while the remaining in red.For the regional markets, the sentiments were mixed during the week with four of the eight indexes closing in green, while the remaining in red.lied Investment Partners PJSC

Commodities   Valuglobal marketse WTD (%) MTD (%) YTD (%)
Gold (s/OZ) 1313.99 -0.3% -0.5% 2.4%
Silver ($/Oz) 15.82 -0.6% -1.5% 2.2%
WTI ($/bbl) 52.72 -4.6% -2.0% 16.1%
Natural Gas 2.58 -5.5% -8.2% -12.1%
OPEC Oil ($/bl) 62.1 -1.0% 0.3% 15.4%
Copper ($/MT) 6232.63 1.5% 1.4% 3.3%
Aluminium ($/MT) 1887.For the regional markets, the sentiments were mixed during the week with four of the eight indexes closing in green, while the remaining in red.48 -0.9% -1.3% 2.4%

 

FX Rates   Value WTD (%) MTD (%) YTD (%)
USD/AED 3.673global marketsglobal markets 0.0% 0.0% 0.0%
USD/SAR 3.75 0.0% 0.0% 0.0%
USD/EGP 17.55 -0.3% -0.5% -1.7%
USD/EUR 0.882 1.1% 1.1% 1.2%
USD/JPY 109.72 0.2% 0.2% 0.1%

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.

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