An abbreviated trading week as regional markets closed for Eid Holidays- Al Masah Capital weekly investment report

Al Masah Capital the alternative investments house in the MENA region released its weekly report that indicated the market reaction in the coming weeks and regional economies performance. An abbreviated trading week as regional markets closed for the Eid holidays. Any activity in the two days that the markets were open was done on very low volumes. This coming week will be a better indicator of what direction July will take after June ended with Brexit and reintroduced volatility, risk aversion and heightened investor uncertainty. 

Regional markets will be looking for further signs as to the global impact of Brexit and its influence on regional economies. While the world adjusts and adapts, regional investors will also look towards the price of oil as another indicator for short term direction. 

Unable to settle above $50, oil has come back towards the mid 40’s so either a test of $40 or a move back towards $50 could have a residual impact on local markets. We remain in the middle of summer so trading volumes will continue to be below average; with uncertainty on the rise, many investors may choose to sit on the sidelines while others may take this opportunity to start building new positions.