Investors to be selectively cautious


JEDDAH — Geopolitical tensions remain the highlight of the week, both on the regional and global fronts, with oil being the highest beneficiary from the shaky scene, latest Al Masah weekly report said.

Crude oil prices ended the week, at $72.58 per barrel, its highest price in 3 years, while WTI prices were up by +8.6% W-o-W.

Regional indices ended the week on a mixed note, with three out of the seven main indices ending in black, while the remaining were in red.

Egypt came in as the best performer among its peers on a weekly basis, with gains of +1.2% adding to its YTD performance of +17.3%, followed by Bahrain +0.7%, and Dubai +0.4%. Saudi Arabia came as the worst performer over the week with losses of -1.6%, followed by Abu Dhabi -0.8%, Oman -0.5% and Kuwait -0.1%.

Investors’ sentiments will remain affected by the geopolitical unrest, keeping them in the cautious and selective investment zone. — SG