Al Masah Capital reports on an eventful week as global markets continue to react to the new American order of Power
Last week was full of action on both the global and regional fronts. The unexpected election of Donald Trump over his rival Hillary Clinton acted as a surprise positive shock to the US markets, which saw their best week for a couple of years with Dow Jones going up by 5.4% and S&P500 surging by 3.8%.
On the regional front Egypt and Saudi Arabia markets remain the stars in the region with each surging by 21.3% and 7.7% respectively for the week with Egypt extending its year to date performance to +52.56% and Saudi bringing its annual losses down to only 5%. The devaluation and the long waited IMF loan are the main drivers for the buying in the Egyptian market, while the regained confidence in the Saudi market and its long term potential helped in the market’s unexpected rise.
On the other hand, UAE markets were not glowing like their two peers with Abu Dhabi being flat for the week while Dubai’s main index went down by 0.74%. The black gold is floundering again on the back of numerous speculations on its production cut, going back again to its 40s range and reaching a low of USD44.75.
With a very eventful week behind us and volumes spiking, we can expect the coming week to be similarly action packed. How global markets continue to react to the new American order of power and oil possibly testing $40 will most likely dictate regional markets, although some profit taking in Egypt and Saudi may also be on the cards.
| Indexes | Last | WTD (%) | MTD (%) | YTD (%) |
| Dubai (DFMGI) | 3,274.06 | -0.74% | -1.75% | 3.91% |
| Abu Dhabi (ADSMI) | 4,282.46 | 0.02% | -0.41% | -0.58% |
| Saudi (SASEIDX) | 6,528.05 | 7.72% | 8.58% | -5.55% |
| Kuwait (KWSE) | 5,480.42 | 1.31% | 1.47% | -2.40% |
| Egypt (EGX30) | 10,688.16 | 21.31% | 27.45% | 52.56% |
| Qatar (DSM) | 9,960.95 | 0.05% | -2.08% | -4.49% |
| Bahrain (BHSEIDX) | 1,160.94 | 1.45% | 1.05% | -4.52% |
| Oman (MSM30) | 5,417.67 | -0.81% | -1.16% | 0.21% |
| TR GCC (Reuters) | 190.95 | 0.23% | -1.05% | -1.79% |
| DJ MENA | 483.72 | 4.09% | 1.83% | -2.86% |
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.
