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Today's markets analysis on behalf of Joseph Dahrieh, Managing Principal at Tickmill
(MENAFN- Your Mind Media ) 2nd August 2024
The UAE stock markets experienced significant losses today. The Dubai stock market saw a strong decline, affected by the financial and real estate sectors. The market could remain exposed to the concerns around geopolitical tensions in the region and could see investors take a more cautious stance.
The Abu Dhabi stock market mirrored Dubai's negative performance, with both markets ending the week in the red after a period of gains. Several factors contributed to this decline in both markets, including heightened geopolitical tensions in the region, a risk-off sentiment in major global stock markets and volatile oil prices.
The Saudi stock market ended its weekly performance nearly flat, with the market awaiting next week's developments. The banking sector's upcoming earnings releases are expected to define the market's direction, alongside the impact of declining oil prices, which continue to weigh negatively on the market.
The Qatari stock market remains directionless after a period of gains, ending its weekly performance with slight gains.
The Egyptian stock market continued its upward trend for the third consecutive week, testing levels from April. Positive developments during the week supported this rise, although ongoing geopolitical tensions pose potential risks to future market performance.
The UAE stock markets experienced significant losses today. The Dubai stock market saw a strong decline, affected by the financial and real estate sectors. The market could remain exposed to the concerns around geopolitical tensions in the region and could see investors take a more cautious stance.
The Abu Dhabi stock market mirrored Dubai's negative performance, with both markets ending the week in the red after a period of gains. Several factors contributed to this decline in both markets, including heightened geopolitical tensions in the region, a risk-off sentiment in major global stock markets and volatile oil prices.
The Saudi stock market ended its weekly performance nearly flat, with the market awaiting next week's developments. The banking sector's upcoming earnings releases are expected to define the market's direction, alongside the impact of declining oil prices, which continue to weigh negatively on the market.
The Qatari stock market remains directionless after a period of gains, ending its weekly performance with slight gains.
The Egyptian stock market continued its upward trend for the third consecutive week, testing levels from April. Positive developments during the week supported this rise, although ongoing geopolitical tensions pose potential risks to future market performance.
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