Last week ended with oil prices rising in the $51-53 per barrel range, as Middle Eastern markets remain in a wait-and-see mode. The pattern of the week, seen in most markets, indicated weak trading activity, which gave way to bargain hunters, according to Al Masah Capital Limited.
.Kingdom's strong bond issuance success
A recent report by Al Masa Capital stated that the Kingdom achieved success with a strong close with its sovereign bond issuance, which led to positive investor sentiment. The strong bond subscription (more than $15 billion) gave investors hope that the country's economic downturn and ballooning deficit could soon hold a more prosperous future.
Egypt. Currency devaluation
Egypt.
Egypt also ended the week on a strong close although trading remains in a tight range at the 8400 level as investors await a devaluation of the country's currency that is seen as the first step to speed up the process of obtaining an IMF loan and ease pressure on the economy. Egypt also ended the week on a strong close although trading remains in a tight range at the 8400 level.
Negative Middle East indices Despite their strong close, most of the Middle East indices that came in on average had a negative week. Egypt led the losers followed by Abu Dhabi and Saudi Arabia, down 2.68%, 1.2% and 0.74% respectively, while Qatar and Dubai had a positive week with modest gains of 0.47% and 0.17% respectively.
UAE takes the lead in selling October returns came in at an average negative 0.Egypt and Saudi Arabia led the buying this month, so trading activity there could show which direction we will end up, while the UAE led the selling, and could increase the month's average returns for the worse. In any case, 2016 returns are signaling stability, so like October, the next few weeks could determine how we will end the year. In any case, 2016 returns are signaling stability, so like October, the next few weeks could determine how we will end this year. October's returns came in with an average negative ratio of 0.8%.
"Diamond Capital" investor advisory
Diamond Capital is one of the fastest growing alternative asset management and advisory firms in the Middle East and Southeast Asia. Founded in 2010 and headquartered in Dubai, UAE, the firm provides its broad client base with tailored solutions in private equity advisory (in healthcare, education, food, logistics and other service sectors), asset management, institutional advisory and real estate advisory as well as general market research services.
Diamond Capital
Through its centers in Dubai, Abu Dhabi and Singapore, Al Masa advises qualified investors on growth opportunities across 13 countries in the Middle East and Southeast Asia.
Al Masa provides its qualified investors with advice on growth opportunities across markets in 13 countries in the Middle East and Southeast Asia.
| IIndexes | Last | WTD(%) | MTD(%) | YTD(%) |
| Dubai(DFMGI) | 3,334.94 | -0.59% | -4.01% | 5.84% |
| Abu Dhabi(ADSMI) | 4,347.20 | -0.97% | -2.88% | 0.93% |
| Saudi(SASEIDX) | 5,693.96 | 1.11% | 1.26% | -1.7.62% |
| KUwait(KWSE) | 5,328.00 | 0.15% | -1.30% | -5.111% |
| Egypt(EGX30) | 8,505.12 | 1.63% | 7.92% | 21.40% |
| Qatar(DSM) | 10,389.96 | 0.32% | -0.44% | -0.38% |
| BaHrain(BHSEIDX) | 1,144.57 | 0.6% | -0.47% | -5.87% |
| OMan(MSM30) | 5,660.22 | 0.90% | -1.15% | 4.70% |
| TR GCC (Reuters) | 197.51 | 0.00% | 0.00% | 1.58% |
| DJ MENA | 46..15 | 0.17% | -3.21% | -6.99% |
