Investors remain cautious with geo-political tensions dominating the global scene despite a strengthening in oil prices – Al Masah Weekly report

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Global markets were negatively affected by the geo-political tensions and trade tariffs with news flow of the White House looking to impose USD 60bn tariffs on the Chinese imports.

The political turbulences coupled with the Saudi energy minister’s announcement regarding OPEC’s continuation in managing supply cut with non-member countries including Russia into 2019, had its positive effects on oil prices, with crude oil ending the week at USD 70.45 per barrel and WTI above USD 65 per barrel.

On the regional front, most of the regional indices ended the week on a negative note with Oman leading the losers pack with losses of -2.0%, followed by -1.6% in Bahrain, -1.5% in Dubai and -1.4% in Kuwait. On the winning team, Saudi Arabia was the best performer, with gains of +1.2% led by the market’s anticipation to FTSE announcement that is expected to take place before the end of the month. Abu Dhabi man index and Egypt’s main index came in next with +0.8% and +0.4% respectively.

Despite a strengthening in oil prices to over USD 70 per barrel, investors remain cautious with geo-political tensions dominating the global scene, affecting both the global and regional markets.

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,149.53 -1.49% -2.92% -6.54%
Abu Dhabi (ADSMI) 4,577.84 0.77% -0.43% 4.08%
Saudi (SASEIDX) 7,840.94 1.24% 5.69% 8.51%
Kuwait (KWSE) 6,662.35 -1.45% -1.63% 3.97%
Egypt (EGX30) 17,064.58 0.39% 10.29% 13.62%
Bahrain (BHSEIDX) 1,333.92 -1.59% -2.63% 0.17%
Oman (MSM30) 4,800.93 -1.96% -4.05% -5.85%
TR GCC (Reuters) 193.29 0.13% -0.02% 1.17%
TR MENA 135.57 0.02% 0.41% 2.21%

Commodities & FX Last WTD (%) MTD (%) YTD (%)
Oil (Brent) 70.45 6.40% 7.10% 5.35%
Natural Gas 2.59 -3.61% -2.85% -12.26%
Gold 1346.76 2.57% 2.21% 3.40%
Silver 16.52 1.35% 0.70% -2.51%
EURUSD 1.24 0.52% 1.30% 2.96%
GBPUSD 1.41 1.38% 2.70% 4.59%
USDJPY 104.72 -1.21% -1.83% -7.06%
USDCHF 0.95 -0.53% 0.28% -2.80%
AUDUSD 0.77 -0.25% -0.84% -1.35%
USDCAD 1.29 -1.56% 0.48% 2.50%

About Al Masah Capital:

Al Masah Capital is one of the fastest growing alternative asset management and advisory firms focused on the MENA and SEA regions. Established in 2010 Al Masah Capital provides tailored solutions to a broad investor base, offering private equity advisory (across Healthcare, Education, Food & Beverages, Logistics and other consumer driven sectors), asset management, corporate and real estate advisory as well as public market research services.

With operations in Dubai, Abu Dhabi and Singapore, Al Masah advises qualifying investors on growth opportunities in 13 focus markets in MENA and South East Asia.