A monthly publication that covers the performance of GCC and global stock markets, provides economic commentary and captures the happenings in GCC.
Key Trends
GCC equity markets continued to make gains with the S&P GCC Composite Index ending the month 6.6% higher. Announcement of reforms in Saudi Arabia and Abu Dhabi cheered the markets.
Oil prices continued their northward march and increased by 7.9% for the month. Investors cheered the rapid rollout of vaccines in UAE that would enable it to attain herd immunity swiftly.
U.S. market (S&P 500) rose 4.2% during the month due to successful passage of the USD 1.9trillion stimulus bill.
Oil prices fell 5.1% for the month due to increase in coronavirus cases in Europe that led to fresh lockdowns.
Table of Content
Market Commentary, March 2021
Oil prices reach $70 levels after OPEC+ extends production cuts, could reduce GCC financing needs
Saudi Arabia approves new law to boost privatization in 16 sectors
Kuwait corporate profits have fallen by half since 2005 even as the economy grew during the same period