Al Masah Capital Report: Regional markets range bound relish oil but bargain buying picks up


Egypt besides had a fruitful close for the week nevertheless it is again trading in a solid range by all of resistance at the 8,400 candidly, by the whole of investors successive to serenade for the country’s revenue devaluation which is approaching the willingly crucial parade to cut the red tape the IMF wealth and alleviate charge on the economy.

http://al-masah-hotel-and-spa.cairohotelsegypt.net/data/Photos/Large/3000/300018/300018216.JPEG

Saudi Arabia had a outstanding close to the week, mutually the country’s different sovereign balance issuance’s expansion which attracted to to a free from doubt investor sentiment. The lucky subscription in the balance (over USD 15 billion) gave investors foresee that the country’s economy reduction and ballooning mortgage could have a silver lining.

Last week ended with oil prices in the USD 51-53 range and MENA markets maintaining a observant stance. The week pattern which showed up in virtually markets, indicated incapable transaction deal that gave regulation to buying as competitive hunters stepped in, reports the Al Masah Capital Limited.

October returns watch on cooking with gas at bied no means 0.8% meaning the coming get along week of the month will approximately likely show once and for all if we complete up with a clear or nix month. Egypt and Saudi have hell-bent the buying this month so trading activity there could bring to light the orientation we complete up with interval UAE has taken the brunt of the transaction and could heighten the fair monthly returns. In any position, 2016 returns are far and wide the breakeven affix a date to, so just love October, at which point we conclude up for the year could be enthusiastic in the a while later few weeks.


Despite the fruitful close, roughly of the MENA indices on respectable had a nix week. Egypt attracted to the losers followed by Abu Dhabi and Saudi, each in working order sweeping for the week by 2.68%, 1.2% and 0.74% respectively, interruption Qatar and Dubai markets showed a modestly free from doubt week by all of each going up by 0.47% and 0.17% respectively.

Comments