A monthly publication that covers the performance of GCC and global stock markets, provides economic commentary and captures key happenings in GCC.
Key Trends
GCC stock markets make small gains in July. S&P GCC composite index ended the month 1.2% higher.
Kuwait Stock markets outperformed Global and GCC markets with 3.0% gain for the All-Share Index. The index has gained 18.7% for the year. Boubyan Bank was the top gainer in July with 9.3% gain.
U.S. market (S&P 500) gained 2.3% for the month reaching new record highs while the MSCI Emerging Index lost 7% due to the Chinese Government action against tech companies like Tencent and Didi.
Oil prices closed at USD 76.3 per barrel at the end of July as oil markets consolidated after several consecutive months of gains.
Table of Content
Market Commentary, July 2021
S&P downgrades Kuwait for the second time in two years
Fitch raises Saudi outlook to stable, cites improved financial position
Inflation accelerates in KSA underpinned by VAT raise last year; Expected to taper in the coming months
OPEC+ reaches consensus to increase supply gradually