Global Investment House -- Kuwait - GCC Market Review June 2009.Summary: The performance of GCC GCC: see Gulf Cooperation Council. (compiler, programming) GCC - The GNU Compiler Collection, which currently contains front ends for C, C++, Objective-C, Fortran, Java, and Ada, as well as libraries for these languages (libstdc++, libgcj, etc). markets were mixed during the June-09. Two of the markets - Kuwait Kuwait (k  wīt`, –wāt) or Kowait (kō`–), officially State of Kuwait, independent sheikhdom (2005 est. pop. and Oman Oman (ōmän`), officially Sultanate of Oman, independent sultanate (2005 est. pop. 3,002,000), c.82,000 sq mi (212,380 sq km), SE Arabian peninsula, on the Gulf of Oman and the Arabian Sea. It was formerly known as Muscat and Oman. ended the month on a
positive note whereas rest of the four markets witnessed losses during
the June-09. In fact most of the markets performed well during the first
half of June-08; however performance turned negative during the second
half of the month. Investors' concern about exposure of the GCC
banking sector to Saad and Al Gosaibi groups of Saudi Arabia Saudi Arabia (sä `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. impacted
the market performance during June-09.
Global Investment House -- Kuwait - GCC Market Review June June: see month. 2009 - The performance of GCC markets were mixed during the June-09. Two of the markets - Kuwait and Oman ended the month on a positive note whereas rest of the four markets witnessed losses during the June-09. In fact most of the markets performed well during the first half of June-08; however performance turned negative during the second half of the month. Investors' concern about exposure of the GCC banking sector to Saad and Al Gosaibi groups of Saudi Arabia impacted the market performance during June-09. Though there has been no confirmed news about total exposure to these two groups, newspaper reports suggest that the total exposure (including International banks) might exceed US$10bn. In the absence of any other significant regional developments, markets continued to be impacted by international developments. The decline in international markets during the second half of the month impacted regional markets' performance. Price of OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its Basket crude touched its highest level of 2009 on 11th June; however the subsequent fall in oil prices impacted regional markets. Looking forward, the performance of regional markets in short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. will depend on corporate earnings for Q2-2009. The performance of Q2-2009 is expected to be better than Q1-2009; however Saad and Al Gosaibi episode might impact banking sector performance. The medium-term performance of markets will depend on economic recovery but in the short-term we are likely to see stock-specific movements. 2009 Al Bawaba (www.albawaba.com) 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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