The Month That Was - Gold Shines in a Lacklustre Market

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MENA markets were generally negative in August; Kuwait Wt Index gained the most 4.2% while Qatar slipped 6.4% making it the worst performing market.....

Summary

  • MENA markets were generally negative in August; Kuwait Wt Index gained the most 4.2% while Qatar slipped 6.4% making it the worst performing market.
  • These markets benefitted from the discussions around the potential inclusion of Saudi Arabia and Kuwait in FTSE Russell emerging market index.
  • Oil witnessed a loss of 0.5% in August as Brent crude ended at $52 a barrel during the month.
  • Blue chips were mostly positive, except the Blue chips from Qatar, which performed negatively in August.
  • GCC Corporate earnings fell by 1% during H1 2017 compared to the same period last year.
  • Fitch lowered Qatar’s credit rating by one notch to AA-minus with a negative outlook, citing the sanctions.
  • Shanghai composite index jumped by 2.7% on the backdrop of robust corporate earnings that led fund managers to boost their equity exposure.

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The Month That Was - Gold Shines in a Lacklustre Market

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