Global equity markets closed the week on a positive note on the back of optimism over progress in talks between the US and China. However, the equity markets brushed aside weaker than expected economic data released during the week as they believe that deal negotiations be-tween the US and China could positively support the global growth. Brent oil prices rose by nearly 2.0% during the week and 32.4% during the quarter to close at US$ 60.1 on Friday.
For the regional markets, the performance during the week was mixed as four out of eight indexes closed in green, while the remaining four closed in red. Kuwait performed positively with gains of 1.2% followed by 0.9% in Saudi Arabia, while Oman was the worst performing with losses of 3.5%, followed by 0.9% in Bahrain and 0.8% in Egypt.
Moving forward, the sentiments of global markets will influence the trading activity within the region but investors will focus on first quarter earnings to take directional positions post ex-dividend trading.
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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© Press Release 2019