Global markets ended the week with mixed performances – Al Masah Capital Weekly Report


Regional markets’ performance was in line with the global markets with UAE markets leading the gainers as Dubai and Abu Dhabi recorded gains of 1.0% and 0.8% respectively

A week that was expected to remain positive witnessed downward pressure on Friday post the outcome of ECB and BoJ’s latest meeting. Both the central banks decided to keep the rates unchanged coupled with no plans in sight for tapering stimulus packages/schemes to support the broader economies.

As a result, the global market ended the week with mixed performances, from a slightly positive end for the US to negative trend in European equities. Further, oil prices showed early signs to inching closer to $50 but witnessed downward pressure on Friday to slip back to $47 levels.

For the regional markets, performance was in line with the global markets but the reasons were not similar as trading activity was also driven by the second quarter releases by corporates during the week.

UAE markets led the gainers as Dubai and Abu Dhabi recorded gains of 1.0% and 0.8% respectively, followed by 0.8% in Qatar after rising by 6.1% in previous week. Oman was the worst performer as it was down by 2.4% on the back of reports that the economy is continuing to face challenges in light of lower oil prices.

The week ahead might continue to face the resistance seen in the last week on the back of a movement in oil prices, unless second quarter earnings positively surprise the markets. The IMF expects Saudi’s economy to register close to zero growth in 2017 due to OPEC production cuts, uncertainty over oil prices and structural reforms undergoing to wean itself off of oil.

Indexes Last WTD E% MTD E% YTD E%
Dubai EDFMGI 3,573.51 1.02% 5.35% 1.21%
Abu Dhabi EADSMI 4,552.49 0.76% 2.87% 0.13%
Saudi ESASEIDX 7,261.13 -0.71% -2.22% 0.70%
Kuwait EKWSE 6,781.02 -0.11% 0.27% 17.97%
Egypt EEGX30 13,715.06 -0.78% 2.38% 11.10%
Qatar EDSM 9,542.28 0.76% 5.67% -8.57%
Bahrain EBHSEIDX 1,320.40 0.23% 0.79% 8.19%
Oman EMSM30 4,999.37 -2.38% -2.32% -13.55%
TR GCC (Reuters) 200.62 0.83% 4.84% -0.98%
DJ MENA 529.21 -0.20% 0.68% 6.28%

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.