Global and GCC markets recover Corona losses on the back of Stimulus

Executive Summary

GCC markets, other than Bahrain, posted gains spurred by policy responses and ease of lockdown despite historically low oil prices and weak economic outlook.

We see the following issues as key developments during the month of April:

- A Distorted Oil market
- Rating Actions on Kuwait post-COVID-19 outbreak
- Impact of Oil Price Volatility on GCC economies, markets and businesses
- GCC stocks that have weathered the COVID-19 storm
- GCC fiscal deficits and financing post COVID-19
- COVID-19's direct and indirect impact on GCC Banking sector