Trading activity in the MENA markets ended on a positive note – Allied Investment Partners PJSC Daily Market Report

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UAE Markets: The trading activity in the UAE markets ended on a negative note, as both Dubai and Abu Dhabi closed lower by 0.4% and 0.5%, respectively for the day. Investors are awaiting earnings announcement from leading corporates to gauge the economic environment and accordingly position themselves in both the indexes. On a YTD basis, Dubai stands as the worst performing index in the region with losses of 19.4%, while Abu Dhabi is the second-best performing index with gains of 10.8%.

Regional Markets: The trading activity in the MENA markets ended on a positive note, as three out of the six indexes closed in green, while two closed in red and one remained unchanged for the day. Saudi Arabia closed higher by 0.6% for the day, buoyed by broad based buying activity on the back of stronger corporate results. Egypt closed on a positive note as the index was up by 0.7% for the day, recovering the losses incurred in the previous session. Bahrain and Oman ended lower by 0.3% and 0.6% respectively, while Kuwait remained unchanged for the day.

International Markets: US markets continued the downward trend as the possibility of more

US-China tariffs coupled with losses in the technology sector stocks dented investor sentiments.

European markets ended in green with London and France up by 1.3% and 0.4%, respectively.

At the time of writing this report, Asian markets opened on a mixed note as Hong Kong was down by

0.8%, while Japan was up by 0.7% and China unchanged during the session.

Indexes Last DoD (%) WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 2,714.83 -0.4% -0.8% -4.2% -19.4%
Abu Dhabi (ADSMI) 4,871.58 -0.5% -0.2% -1.3% 10.8%
Saudi (SASEIDX) 7,847.51 0.6% 0.2% -1.9% 8.6%
Kuwait (KWSE) 4,697.88 -0.0% 0.0% -0.8% -2.9%
Egypt (EGX30) 13,074.47 0.7%   0.4% -10.5% -12.9%
Bahrain (BHSEIDX) 1,315.04 -0.3% -0.0% -1.8% -1.3%
Oman (MSM30) 4,428.80 -0.6% -0.5% -2.5% -13.1%
Commodities Value DoD (%) WTD (%) MTD (%) YTD (%)
Gold (s/OZ) 1229.35 -0.3% -0.3% 3.2% -5.6%
Silver ($/Oz) 14.45 -1.1% -1.1% -1.0% -14.7%
WTI ($/bbl)         67.04 0.8% –0.8% -8.5% 11.0%
Natural Gas 3.15 -1.2% -1.2% 4.6% 9.8%
OPEC Oil ($/bl) 77.34 -0.4% -0.4% -6.5% 15.7%
Copper ($/MT) 6142.52 0.0% 0.0% -1.0% -15.4%
Aluminium ($/MT) 1985.84 -0.5% -0.5% -2.1% -12.4%
FX Rates Value DoD (%) YTD (%)
USD/AED 3.673 0.0% 0.0%
USD/SAR 3.751 0.0% 0.0%
USD/EGP 17.88 0.0% 1.1%
USD/EUR 0.879 0.3% 6.1%
USD/JPY 112.36 0.4% 0.1%

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.