The Month That Was - GCC Equities Flat Despite Oil Boom

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Oil Strength: Brent crude is now trading at $82.7/bbl, and is up 23.7% for the year. Supply concerns due to U.S. sanctions on Iran and the increase in.....

Summary

Oil Strength: Brent crude is now trading at $82.7/bbl, and is up 23.7% for the year. Supply concerns due to U.S. sanctions on Iran and the increase in demand for oil have been major factors that have pushed up the global oil prices. Strong oil price should provide the needed fiscal relief for GCC countries though many countries still have break-even oil price above the current spot price.

Kuwait: Kuwait stock market continues to hog the limelight as investors are upbeat on its inclusion in FTSE emerging market index, which officially took effect from September 24th. There was a liquidity spike in the market on September 20th that caused some local debates. However, Kuwait stock market was flat during the month and is just about holding on to its yearly gain of 8.8%.

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The Month That Was - GCC Equities Flat Despite Oil Boom

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