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 (%)|
|Abu Dhabi (ADSMI)||▼||4,871.58||-0.5%||-0.2%||-1.3%||10.8%|
|Commodities||Value||DoD (%)||WTD (%)||MTD (%)||YTD (%)|
|OPEC Oil ($/bl)||▼||77.34||-0.4%||-0.4%||-6.5%||15.7%|
|FX Rates||Value||DoD (%)||YTD (%)|
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.