|28 January, 2019

Regional markets expected to be driven by corporate earnings and developments in global markets: report

Allied Investment Partners market report

Global markets continued to maintain the positive trajectory during the week on the back of robust corporate earnings despite the ongoing uncertainties surrounding the developed markets. Further, the optimism over end to US government shutdown also boosted sentiment on the last trading session of the week. FTSE was the only index to witness downward pressure during the week on the back of uncertainty over Brexit, while the rest of global indexes closed in positive territory.

For the regional markets, the sentiments were slightly bearish as five out of the eight indexes ended in red, while three closed in green for the week. On the positive side, Bahrain was the best performer with gains of 2.5%, followed by 0.7% in Abu Dhabi, while Oman was the worst performer with losses of 1.3%, followed by 0.3% in Kuwait. Oman has witnessed strong selling pressure during the past two weeks to push the annual losses to 3.3%, the worst amongst the regional markets.

Going forward, the regional markets will continue to be driven by corporate earnings and developments in global markets. Further, the movement in oil prices should also support the sentiments in the regional markets to end the first month of 2019 on a positive note.

-Ends- 

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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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