Global equity markets bounced back during the week on the back of growing optimism that the US Fed could cut rates this year to sustain expansion, outweighing the concerns over cooling off labor market. Brent oil prices performed negatively as it was down by 0.5% during the week.
For the regional markets, most of the major markets were closed on occasion of Eid. The month of May was disappointing for the regional markets as all the markets under coverage reported losses in May. Saudi Arabia was the worst performing index with losses of 8.5%, followed by 7.7% in Egypt, and 5.3% in Dubai.
Going forward, the regional markets are expected to catch up with the positive trend recorded in the global markets during the previous week. Moreover, investors are expecting rate cuts by the US Fed in the coming months, which should augur well for the regional markets. Trading activity is also expected to pick up as investors return post a week long Eid break.
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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