The Month That Was - GCC Surges backed by Oil

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The GCC Stock Market continues to post positive results, marking another positive month. The S&P GCC index was up 1.1% for the month and is now up.....

Summary

The GCC Stock Market continues to post positive results, marking another positive month. The S&P GCC index was up 1.1% for the month and is now up 9.9% for the year, making it as one of the best performing regions in the world. Both MSCI EM and MSCI World were negative for the month. MSCI EM shed 4.6%, while, MSCI World lost 0.2%.

The performance of S&P GCC index was supported by good show by Saudi Arabia following favourable news flow including MSCI inclusion and increased oil production while other GCC markets were mixed during the month. Tadawul added 1.9% for the month brining its overall gains in 2018 to 15.1%, the highest in the GCC region. This is in sharp contrast to the Dubai market that so far has lost 16.3% for the year.

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The Month That Was - GCC Surges backed by Oil

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