International markets ended the week on a negative note as a result of concerns over rising interest rates coupled with worries of a global economic slowdown.

On the regional front, most of the indices ended the week on a negative note with the exception of Egypt. On the losing side, Dubai was the worst performer amongst its peers with losses of -3.4% for the week. Followed by Oman and Saudi Arabia with a negative performance of -2.5% and -2.0% respectively for the week.

Bahrain, Abu Dhabi and Kuwait ended lower by -0.4%, -0.1% and -0.1% respectively. On the winning side, Egypt was the only index that recorded gains of +1.1% for the week.

Going forward, the trading activity within the MENA region is likely to remain subdued affected by the Holidays season and investors’ sentiment being affected by concerns over global growth.

Indexes

 

Last

WTD (%)

MTD (%)

YTD (%)

Dubai (DFMGI)

2,509.81

-3.4%

-6.0%

-25.5%

Abu Dhabi (ADSMI)

4,855.94

-0.1%

1.8%

10.4%

Saudi (SASEIDX)

7,753.36

-2.0%

0.7%

7.3%

Kuwait (KWSE)

4,710.35

-0.1%

-0.4%

-2.4%

Egypt (EGX30)

13,137.58

1.1%

-1.4%

-12.5%

Bahrain (BHSEIDX)

1,313.95

-0.4%

-1.1%

-1.3%

Oman (MSM30)

4,336.84

-2.5%

-1.7%

-15.0%

 

Commodities

 

Value

WTD (%)

MTD (%)

YTD (%)

Gold (s/OZ)

1255.92

1.4%

2.8%

-3.6%

Silver ($/Oz)

14.6

0.2%

3.0%

-13.8%

WTI ($/bbl)

45.59

-11.0%

-10.5%

-24.5%

Natural Gas

3.82

-0.3%

-17.3%

33.1%

OPEC Oil ($/bl)

53.82

-10.7%

-8.3%

-19.5%

Copper ($/MT)

6029.93

-2.7%

-3.2%

-17.0%

Aluminium ($/MT)

1917.95

-1.4%

-0.9%

-15.4%

                                                                                                                      

FX Rates           

 

Value

WTD (%)

MTD (%)

YTD (%)

USD/AED

3.67

0.0%

0.0%

0.0%

USD/SAR

3.75

0.0%

0.0%

0.0%

USD/EGP

17.86

-0.5%

0.0%

1.0%

USD/EUR

111.21

-1.9%

-2.0%

-1.3%

USD/JPY

0.88

-0.5%

-0.5%

5.6%

 

Source: Matrix PR