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Today's markets analysis on behalf of Joseph Dahrieh, Managing Principal at Tickmill
(MENAFN- Your Mind Media ) 31st May 2024
Stock markets in the UAE rebounded to a certain extent today after a long period of price corrections. Both markets could remain exposed to downside risks while investors continue to monitor geopolitical risks, oil markets, and changing expectations regarding monetary policy in the US.
The Dubai stock market recorded a positive performance today, limiting the impact of its declines earlier in the week. Traders could continue to monitor US data releases for clues on the direction of monetary policy. At the same time, geopolitical developments in the region could remain a source of concern.
The Abu Dhabi stock market followed the same path as its national counterpart and rebounded after hitting a two-year low. The market could remain exposed to the uncertainty in oil markets, which have been recording some volatility although they continue to trade horizontally this month.
Attention could remain focused on the OPEC meeting this weekend as well as the Aramco share offering. OPEC’s decisions could affect oil prices and regional stock markets while Aramco’s operation could help attract investors to the Saudi market.
Stock markets in the UAE rebounded to a certain extent today after a long period of price corrections. Both markets could remain exposed to downside risks while investors continue to monitor geopolitical risks, oil markets, and changing expectations regarding monetary policy in the US.
The Dubai stock market recorded a positive performance today, limiting the impact of its declines earlier in the week. Traders could continue to monitor US data releases for clues on the direction of monetary policy. At the same time, geopolitical developments in the region could remain a source of concern.
The Abu Dhabi stock market followed the same path as its national counterpart and rebounded after hitting a two-year low. The market could remain exposed to the uncertainty in oil markets, which have been recording some volatility although they continue to trade horizontally this month.
Attention could remain focused on the OPEC meeting this weekend as well as the Aramco share offering. OPEC’s decisions could affect oil prices and regional stock markets while Aramco’s operation could help attract investors to the Saudi market.
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