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|11 February, 2019

Trading activity is expected to be driven by movement in global markets coupled with oil prices: Report

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.

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

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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

 

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%

Commodities

 

Value

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)

1887.48

-0.9%

-1.3%

2.4%

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

17.55

-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%

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.

For more information, please visit http://aipuae.com/

For media enquiries, please contact Matrix Public Relations

Krishika Mahesh: Krishika@matrixdubai.com

Or call: 04 34 30 888

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