More earnings expected in the region in the coming week– Al Masah Capital Weekly Report


A set of disappointing regional earnings for the 2Q coupled with negativity on the global scene had its effect with a subdued performance in the markets last week. Four out of the eight regional indices ended the week up while the other four were down with the selling picking up speed towards the end of the week.

Saudi Arabia came out on top of the gainers with a weekly rise of + 1.1%, followed by Egypt + 0.4%, Kuwait + 0.3% and Bahrain + 0.1%. Qatar was the worst performer of the week losing – 1.7%, followed by Oman – 1.3%, Abu Dhabi – 1.0% and Dubai – 0.8%.

Crude oil is still maintaining its position around the USD 50 mark, with a modest decline of 0.6% over the week, yet it feels like a prolonged consolidation around these levels could be starting to take hold. With global risk spiking and regional markets falling in step, investors moved towards Gold as a safe haven, the commodity rising by 2.4% over the week and allowing its YTD positive performance to reach + 12.36%.

The coming week will witness more earnings releases from companies in the region with EMAAR and Damac on tap, the global picture will be followed intently and thin volumes might exacerbate market swings.

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,647.33 -0.76% 0.39% 3.30%
Abu Dhabi (ADSMI) 4,550.93 -0.98% -0.33% 0.10%
Saudi (SASEIDX) 7,164.64 1.12% 0.99% -0.64%
Kuwait (KWSE) 6,845.01 0.28% -0.10% 19.08%
Egypt (EGX30) 13,462.38 0.37% 0.32% 9.05%
Qatar (DSM) 9,242.82 -1.65% -1.74% -11.44%
Bahrain (BHSEIDX) 1,324.28 0.13% -0.27% 8.51%
Oman (MSM30) 4,991.51 -1.31% -0.65% -13.68%
TR GCC (Reuters) 201.01 -0.59% -0.44% -0.78%
DJ MENA 527.39 0.44% 0.54% 5.91%

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.