|25 February, 2019

Regional markets expected to look for cues from the international markets, especially developments in trade talks between the US and China

Allied Investment Partners market report

Global markets continued the positive momentum on the back of growing optimism over a possible trade deal between the world’s two largest economies. However, latest economic indicators continue to point towards slowing global growth. Investors are hoping for a deal to be signed, which could be able to offset part of slowing economic activity.

Oil prices have rebounded strongly since the start of the year as WTI increased by 26.1% YTD to close at US$57.3 per barrel at the close of previous week. For the regional markets, the sentiments continue to remain positive with some pullback recorded in selected markets during the week.

For the UAE, both the indexes are being driven by renewed interest in the real estate sector after reporting upbeat earnings and announcing higher dividends. Elsewhere, investors have continued to remain focused on individual companies, which depicted strong earnings with potential to continue the performance going forward. For the week, Dubai was the best performer with gains of 4.0%, followed by 2.4% in Bahrain, while Oman was the worst performer with losses of 1.3%, followed by 0.9% in Saudi Arabia.

Going forward, the regional markets will look for cues from the international markets, especially the developments on the trade talks between the US and China. Further, stock specific buying will continue to remain a theme for the region, especially names that are likely to benefit from the ongoing recovery expected across the region.

Indexes

 

Last

WTD (%)

MTD (%)

YTD (%)

Dubai (DFMGI)

2,633.69

4.0%

2.6%

4.1%

Abu Dhabi (ADSMI)

5,098.12

1.2%

1.1%

3.7%

Saudi (SASEIDX)

8,547.48

-0.9%

-0.1%

9.2%

Kuwait (KWSE)

4,791.09

-0.1%

-0.1%

1.1%

Egypt (EGX30)

15,146.71

1.1%

7.2%

16.2%

Bahrain (BHSEIDX)

1,404.84

2.4%

1.0%

5.1%

Oman (MSM30)

4,055.57

-1.3%

-2.7%

-6.2%

Commodities

 

Value

WTD (%)

MTD (%)

YTD (%)

Gold (s/OZ)

1327.71

0.5%

0.5%

3.5%

Silver ($/Oz)

15.92

0.9%

-0.9%

2.8%

WTI ($/bbl)

57.26

3.0%

6.5%

26.1%

Natural Gas

2.72

3.5%

-3.4%

-7.6%

OPEC Oil ($/bl)

67.12

1.3%

8.5%

24.8%

Copper ($/MT)

6391.3

4.6%

4.0%

5.9%

Aluminium ($/MT)

1904.49

2.7%

-0.4%

3.3%

FX Rates           

Value

WTD (%)

MTD (%)

YTD (%)

USD/AED

3.6726

0.0%

0.0%

0.0%

USD/SAR

3.7499

0.0%

0.0%

0.0%

USD/EGP

17.49

0.0%

-0.8%

-2.1%

USD/EUR

0.8814

-0.4%

0.9%

1.1%

USD/JPY

110.68

0.2%

1.7%

1.0%

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

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases