|29 September, 2019

Equity markets expected to move back to focus on Central Bank policy and upcoming earnings seasons

Allied Investment Partners PJSC Market Report

Global equity markets performed negatively during the week, primarily influenced by headlines from US politics. Although, the prevalent political risk was evident within markets during the week, investors remained focused on policy environment as it should have a bigger impact on global economic environment. Brent crude oil prices declined by 3.69% during the week after Saudi Arabia announced its oil production has almost recovered to the levels before the drone attack.

For the regional markets, the performance during the week was mixed with 4 out of the 8 indexes closing in green, while the remaining 4 closed in red. Egypt was the standout market as the index lost 6.00% due to protests that broke out over the previous weekend, leading to heightened domestic concerns among investors. Bahrain was the best performing index regionally with gains of 2.08%, followed by Saudi Arabia with gains of 1.28%.

 Going forward, equity markets will move back to focus on Central Bank policy and upcoming earnings seasons. Both these developments will be important for investment managers to rebalance their portfolios to align with the changing environment. For the regional markets, the focus will be on the upcoming quarterly earnings releases by leading companies.  

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