Global equity markets witnessed mixed sentiments during the week as better than expected Q3 earnings and news of EU and the UK agreeing on a deal was offset by negative headlines from US retail sales and weak GDP data from China.
Additionally, the IMF lowering its global growth forecast for the year from 3.5% to 3.0%, also weighed in investor sentiments as it refueled fears of a global slowdown. Brent crude oil price was down by 1.80% during the week on the back of weaker oil demand, especially after slowing economic growth witnessed in China.
For the regional markets, the performance during the week was mixed with 4 out of the 8 indexes closing in green and 4 closing in red. Abu Dhabi performed positively with gains of 0.39%. Dubai was the worst performing regional index with losses of 1.08%, followed by 0.78% in Saudi Arabia.
Going forward, the anticipated positive headlines from Brexit and US-China trade deal should help the global markets. For the regional markets, the focus will continue to remain on Q3 earnings, while the movement in oil prices will also influence trading activity.
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
© Press Release 2019