Trading activity within the MENA region is likely to track the sentiments in global markets as well as the movement in oil prices – Allied Investment Partners PJSC Market Report

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The last trading week of the year has been eventful as international markets have witnessed wild moves, especially in the US indices over the week. Investors turned optimistic about the possible discussion between the US and China during the month of January, which could potentially provide more clarity on the trade war between the two largest economies.

For the regional markets, the performance during the week was mostly negative as three indices managed to remain in green, while four ended in red. On the losing side, Dubai was the worst performer with losses of -1.6%, followed by Egypt with losses of -1.2% and -0.5% in Abu Dhabi for the week. Saudi Arabia ended the week lower by -0.1%. On the winning side, Bahrain was the best performer with gains of +0.6%, followed by +0.2% in Oman and +0.1% in Kuwait for the week.

Going forward, the trading activity within the MENA region is likely to track the sentiments in global markets as well as the movement in oil prices, which continues to influence the performance of regional economies.

Indexes
Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI)2,469.49-1.6%-7.5% -26.7%
Abu Dhabi (ADSMI)4,831.23-0.5%1.3% 9.8%
Saudi (SASEIDX)7,749.32-0.1%0.6% 7.2%
Kuwait (KWSE)4,715.290.1%-0.3% -2.3%
Egypt (EGX30)12,984.21-1.2%-2.5% -13.5%
Bahrain (BHSEIDX)1,322.200.6%-0.5% -0.7%
Oman (MSM30)4,344.470.2%-1.5% -14.8%

Commodities
Value WTD (%) MTD (%)
YTD (%)
Gold (s/OZ)1280.672.0%4.8% -1.7%
Silver ($/Oz)15.345.1%8.2% -9.5%
WTI ($/bbl)45.33-0.6%-11.0% -25.0%
Natural Gas3.3-13.4%-28.4% 15.2%
OPEC Oil ($/bl)52.2-3.0%-11.1% -21.9%
Copper ($/MT)6021.11-0.1%-3.3% -17.1%
Aluminium ($/MT)1873.02-2.3%-3.2% -17.3%
FX Rates
Value
WTD (%)
MTD (%)
YTD (%)
USD/AED3.670.0%0.0% 0.0%
USD/SAR3.750.0%0.0% 0.0%
USD/EGP17.84-0.1%-0.1% 0.8%
USD/EUR110.26-0.9%-2.8% -2.1%
USD/JPY0.87-0.6%-1.1% 5.0%

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.