|02 June, 2019

Trading activity within the region expected to be subdued due to Eid Holidays: report

Allied Investment Partners Market Report

Global equity markets continued the downward trend during the week on the back of rising trade tensions and geopolitical uncertainty. Equity markets around the world performed negatively during May as investors reacted to the renewed trade tensions, coupled with softening economic indicators. Brent oil prices recorded one of the worst weekly drops for the year, down by 8.75% during the week.

For the regional markets, the performance during the week was positive with six out of the eight indexes closing in green while the remaining two closed in red. The MSCI inclusion and early signs of improvement in geopolitical environment supported the positive performance in regional equities during the week.

Abu Dhabi performed positively with gains of 4.74%, followed by gains of 1.78% in Bahrain, while Saudi Arabia and Egypt were marginally lower during the week.

Going forward, the trading activity within the region will be subdued due to Eid Holidays. Moreover, sentiment will be dominated by the developments in the regional geopolitical environment and rising trade tensions between the world’s two largest economies.

-Ends- 

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