A monthly publication that covers the performance of GCC and global Capital markets (Equity & Fixed Income)
GCC markets increased in November, with the S&P GCC Composite index gaining 5.0%, which can be attributed to the fall in geopolitical tensions in the Middle East.
Kuwait index increased by only 1.9% in November. The relatively poorer performance when compared to the GCC markets was owing to the fall in oil prices and the IMF expectations of a declining GDP in 2023.
Developed market equities increased in November, with MSCI World and S&P 500 indices gaining 9.2% and 8.9% respectively.
Oil prices fell by 5.2% for November, with the easing geopolitical tensions in the Middle East, increasing supply from non-OPEC countries, and concerns over global demand. The fall was despite the continuing OPEC+ production cuts.