|28 October, 2019

Positive global sentiment along with strengthening of oil prices expected to support trading activity in the region

The market movement suggests that the IMF's last week projections of synchronized slowdown did little to dent the optimism, indicating that investors are looking for immediate trigger in forms of ease in trade tension and easing policy rates

Global equity markets closed on a positive note during the week as sign of constructive development on the US-China trade front coupled with upbeat earnings announcement by a slew of US IT companies fuelled optimism. Market gains were however capped by the uncertainty over Brexit.

The market movement suggests that the IMF’s last week projections of synchronized slowdown did little to dent the optimism, indicating that investors are looking for immediate trigger in forms of ease in trade tension and easing policy rates. Brent crude oil prices were up by 4.38% during the week, mainly on the back of falling stockpile and ease in trade tension.

For the regional markets, the performance during the week was positive with 5 out of the 8 indexes closing in green, while 3 closed in red. Saudi Arabia was the best performing index regionally with gains of 3.63%, followed by Abu Dhabi with gains of 1.37%.

Going forward, investors will turn their focus on the upcoming US Fed meeting to get cues on the direction of interest rate trajectory, while earnings announcement will continue to influence trading activities. For the regional markets, the positive global sentiment along with strengthening of oil prices should support 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.

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