Oil continues to remain the main driver for regional market performance – Al Masah Capital Weekly Report

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Abu Dhabi was the best performer in the region with a 2.3% increase over the week followed by Egypt at +1.5% and Dubai with a +0.1% return.

Macro and political news were the main drivers for last week’s Global and regional performance. Dow Jones broke 21,000 points and S&P500 reached its all-time high on the back of a fall in unemployment rates and more job additions.  European markets inched up as well, with optimism about Macron winning the French election.

For the first time this year, Crude Oil broke the USD 50 mark downward reaching a low of USD 46.69 per barrel driven by fears regarding the supply glut. Saudi Arabia’s announcement that Russia is ready to join OPEC in extending the supply cuts managed to make oil rebound to USD 49.10 a barrel on Friday.

Over the week, regional markets had mixed performances, with Qatar and Kuwait being the worst performers among their peers, falling by 1.5% each. Oman, Saudi and Bahrain came next in losses with each declining by 0.9%, 0.3% and 0.1% respectively over the week. Abu Dhabi was the best performer in the region with a 2.3% increase over the week followed by Egypt at +1.5% and Dubai with a +0.1% return.

For the coming period, oil will remain the main driver for regional market performance, reflected by increasing investment cautiousness and thin trading volumes.

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,419.73 0.09% 0.14% -3.15%
Abu Dhabi (ADSMI) 4,617.16 2.31% 2.09% 1.56%
Saudi (SASEIDX) 6,924.08 -0.31% -1.27% -3.97%
Kuwait (KWSE) 6,752.79 -1.48% -1.32% 17.48%
Egypt (EGX30) 12,709.93 1.47% 2.22% 2.96%
Qatar (DSM) 9,938.28 -1.50% -1.25% -4.78%
Bahrain (BHSEIDX) 1,331.22 -0.07% -0.33% 9.08%
Oman (MSM30) 5,475.92 -0.90% -0.68% -5.31%
TR GCC (Reuters) 198.63 0.05% -0.06% -1.96%
DJ MENA 511.54 -0.05% -1.17% 2.73%


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.