Global equity markets closed on a mixed note for the week as focus broadly shifted to the much awaited G20 Summit in Japan with hopes of recommencement of negotiations between the US and China. The month of June closed on a strong note, primarily supported by shift in Central Bank policies as they are showing willingness to take appropriate measures to support economic expansion. Brent crude oil prices was up by 2.07% during the week on the back of continued geopolitical tensions in the Middle East.
For the regional markets, the performance during the week was negative with 5 out of the 8 indexes closing in red, while the remaining 3 closed in green. Bahrain was the best performing index regionally with gains of 0.92%, followed by 0.41% in Egypt, while others performed negatively with losses of 1.23% in Dubai, followed by 1.05% in Abu Dhabi.
Going forward, investors will closely monitor the developments from the G20 Summit and key economic indicators due for release during the week. The regional investors will also follow the first half earnings releases to access the pace of recovery in the regional economies.
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.
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