Global equity markets closed marginally higher as investors continue to cheer the progress made on trade front. The US markets continued the positive momentum for the sixth consecutive week, the longest streak in two years.
However, the mixed economic data during the week led to volatility in rest of the global markets. The softer retail sales and industrial production in China for the month of October weighed on broader index, but better-than-expected Eurozone GDP pushed the European indexes higher during the week.
For the regional markets, trading activity was largely positive, supported by rise in oil prices amid reports of potential OPEC supply curb. During the week, 5 out of the 8 indexes closed in green, while the remaining 3 closed in red. Saudi Arabia was the best performing index regionally with gains of 1.61%, followed by 1.07% in Oman. Egypt was the worst performing index regionally with losses of 1.69%, followed by 1.03% in Kuwait.
Going forward, investors will continue to monitor the progress in trade talks and manufacturing data in the US and Japan to get cues for driving the markets during the week. Furthermore, investors will remain hopeful about rate cuts by global Central Banks to stimulate economic activity in the coming months.
On the regional front, the trading activity will be dominated by sentiments in global markets. Furthermore, investors might be cautious to maintain returns towards the end of the year.
Indexes |
| Last | WTD (%) | MTD (%) | YTD (%) |
Dubai (DFMGI) | ▲ | 2,701.48 | 0.10% | -1.65% | 6.79% |
Abu Dhabi (ADSMI) | ▲ | 5,137.62 | 0.12% | 0.58% | 4.53% |
Saudi (SASEIDX) | ▲ | 7,924.19 | 1.61% | 2.33% | 1.25% |
Kuwait (KWSE) | ▼ | 4,704.70 | -1.03% | -1.12% | -0.71% |
Egypt (EGX30) | ▼ | 14,545.54 | -1.69% | -0.09% | 11.58% |
Bahrain (BHSEIDX) | ▼ | 1,504.97 | -0.88% | -1.20% | 12.54% |
Oman (MSM30) | ▲ | 4,083.94 | 1.07% | 2.10% | -5.55% |
Commodities |
| Value | WTD (%) | MTD (%) | YTD (%) |
Gold (s/OZ) | ▲ | 1467.12 | 0.79% | -3.04% | 14.37% |
Silver ($/Oz) | ▲ | 16.95 | 0.56% | -6.49% | 9.49% |
WTI ($/bbl) | ▲ | 57.72 | 1.51% | 6.53% | 27.11% |
Natural Gas | ▲ | 2.69 | 1.93% | 2.09% | -8.57% |
OPEC Oil ($/bl) | ▲ | 63.3 | 1.80% | 5.10% | 17.66% |
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/
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Krishika Mahesh: Krishika@matrixdubai.co
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