Cairo – Mubasher: Egypt’s bourse delivered the strongest performance among its regional peers over the last week, according to Al Masah Capital Weekly Report.
The bourse rose 5% to break the 11,000 level for the first time since 2008, the report indicated.
“The rise is backed by positive investor sentiment regarding the IMF support of much needed funding. Stocks continue to rise after the currency declined by more than 40% at the beginning of this month,” the report revealed.
GCC and Egypt markets are likely to extend their positive performance this week amid high volumes on the back of last week’s momentum.
Saudi Arabia maintained its upward trend with a 1.5% increase over last week as well thanks to the positive outlook for a potential OPEC supply freeze/cut.
Likewise, UAE markets ended the past week higher despite data indicating that the government is to continue with bank consolidation following the FGB and NBAD merger.
GCC and Egypt markets are likely to extend their positive performance this week amid high volumes on the back of last week’s momentum.
| Indexes | Last | WTD (%) | MTD (%) | YTD (%) |
| Dubai (DFMGI) | 3,309.79 | 1.09% | -0.68% | 5.04% |
| Abu Dhabi (ADSMI) | 4,292.08 | 0.22% | -0.19% | -0.35% |
| Saudi (SASEIDX) | 6,628.88 | 1.54% | 10.26% | -4.09% |
| Kuwait (KWSE) | 5,511.74 | 0.57% | 2.05% | -1.84% |
| Egypt (EGX30) | 11,221.56 | 4.99% | 33.81% | 60.17% |
| Qatar (DSM) | 9,774.98 | -1.87% | -3.91% | -6.27% |
| Bahrain (BHSEIDX) | 1,180.26 | 1.66% | 2.74% | -2.93% |
| Oman (MSM30) | 5,496.05 | 1.45% | 0.27% | 1.66% |
| TR GCC (Reuters) | 191.27 | 0.17% | -0.88% | -1.63% |
| DJ MENA |
Credit: Al Masah Capital Weekly Report
