The Month That Was - MENA Markets Mixed, Oil flat post-Brexit

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Lull in trading activity due to Ramadan and Brexit dominate markets in June, a mixed month for MENA markets Kuwaiti indices continue to be affect.....

Summary

  • Lull in trading activity due to Ramadan and Brexit dominate markets in June, a mixed month for MENA markets
  • Kuwaiti indices continue to be affected by low oil price, which have resulted in falling trade surplus
  • Egypt remains plagued by currency crisis, as central bank drafts new rule to combat currency shortage
  • Blue Chips had a mixed month. NBAD and SEC top performers, while NBK and Kingdom Holdings lagged behind
  • Global equities mixed in June, as markets recover from Brexit hangover · Eurozone markets down despite inflation surge to marginally positive
  • Brexit caused global sell-offs and has stoked uncertainty about the future of Eurozone · Investors market averse, as possibility of contagion remains high
  • Brent crude flat in June, after oil price recovers post-Brexit outcome

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The Month That Was - MENA Markets Mixed, Oil flat post-Brexit

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