• May 11, 2022

    GCC markets trend upward on positive economic outlook and corporate earnings

    Kuwait’s All Share Index gained 2.6% in the month of April supported by improved economic outlook and positive earnings reports. Oil prices were up by 1.3% for the month. Among sectors, Boursa Kuwait’s Telecom sector was the top gainer, rising 11.9% followed by Industrials which increased by 10.2%. Insurance sector declined the most for the month at 4.9%, followed by Energy, which declined by 3.8%. Among Premier Market stocks, Gulf Cable and Electrical Industries Company and Jazeera Airways were the...

  • March 7, 2022

    GCC markets positive on multi-year high oil prices

    In line with its GCC peers, Kuwait’s all share index gained 3.9%, supported by a continued up-trend in oil prices. Oil prices, which acted as an important factor driving the GCC stock market performance, breached the USD 100 per barrel mark in the month of February. Among sectors, Boursa Kuwait’s Telecom sector was the top gainer, rising 10.9% followed by Consumer Discretionary at 7.6%. Technology and Energy sector index declined, falling 8.7% and 5.0% respectively. Boursa Kuwait’s banking sector index...

  • January 24, 2022

    GCC markets ended 2021 positively supported by sharp recovery in oil prices

    GCC markets had a very positive year in 2021, supported by the sharp recovery in oil prices. The S&P GCC composite index ended the year with gains of 31.4%, following a 4.0% rise in December 2021. Abu Dhabi was the best performer among GCC markets, gaining 68.2% for the year followed by Saudi Arabia with yearly gains of 29.8%. Market Performance & Key Metrics Source: Refinitiv During December, Saudi equity market outperformed its peers, increasing 4.8% followed by Dubai equity...

  • January 19, 2022

    Kuwait’s All Share index gained 27% in 2021 supported by recovery in oil prices

    Kuwait markets ended the year positively, with the recovery in oil prices supporting gains. Kuwait All Share index gained 27.0% in 2021, following a rise of 3.7% in December. Market Performance & Key Metrics Source: Refinitiv Among sectors, Boursa Kuwait’s Consumer Discretionary sector was the top gainer, rising 9.9% for the month, followed by Financial Services at 5.5%. Technology sector index declined the most, falling 7.8% for the month. Banking sector index was up by 4.2% in December. Kuwait’s performance...

  • December 9, 2021

    Kuwait stocks fell in November driven by sharp fall in oil prices

    Kuwait, in line with the broader GCC market, ended the month in red, fuelled by sharp fall in oil prices. The growing fears over a new COVID-19 variant also led to profit taking at the end of the month. Market Performance & Key Metrics Source: Refinitiv, Boursa Kuwait All sectors, except Healthcare and Insurance, declined in November. Insurance was the top gainer, rising 7.6% followed by healthcare which recorded modest gains of 1.8%. Basic materials and Industrials sector indices registered...

  • December 6, 2021

    Oil declines in November on concerns of lower demand owing to COVID-19 variant

    Oil prices declined steeply in November, marking its largest monthly decline since March 2020. The fall follows the multi-year high prices posted by the commodity in October. Concerns over lower demand on account of new COVID-19 variant, Omicron, and expectation of increase in supply due to release of Strategic Petroleum Reserves by the U.S pressured prices during the month. Performance of Oil Source: Refinitiv U.S plans to release about 50 million barrels of oil from its reserves. China, Japan, India,...

  • November 14, 2021

    Oil marches upward in October on supply concerns

    Oil prices in October hovered over their highest since 2014, with demand pressures exceeding supply. Expectation of higher natural gas prices encouraging a switch to oil and continued relaxation of travel restrictions supported prices. Supply is also expected to be tighter with Saudi Arabia’s oil minister dismissing calls for a steeper increase in output. IEA expects current energy crunch to boost oil demand by 500,000 bpd. It estimates the resulting supply gap to be at 700,000 bpd until OPEC+ increases...

  • November 10, 2021

    GCC markets gain in October on rise in oil prices and strong earnings

    GCC markets were positive for the month of October strengthened by strong earnings and sustained increase in oil prices. S&P GCC composite index rose by 2.3%, with Kuwait, Qatar and Abu Dhabi leading the gainers. Saudi Arabia’s main index rose 1.8% in October and had reached 15-year highs during the month. Dubai gained the least among GCC markets at 0.7%. GCC Market Performance Source: Refinitiv Among the GCC blue chip companies, the best performer was Al Rajhi Bank (Saudi Arabia),...

  • November 9, 2021

    Kuwait leads GCC markets in October

    Kuwait was the best performing GCC market in October, supported by the rise in oil prices. The Boursa Kuwait All Share index registered gains for the eighth consecutive month, gaining 3.5% for the month and extended its yearly gains to 28.2%. Kuwait government had lifted precautionary restriction measures for COVID-19 from Oct 24, with certain conditions. Kuwait Market Performance Source: Refinitiv Among sectors, the Consumer Discretionary was the top gainer, rising 13.1% followed by Financial Services at 9.1%. Utilities sector...

  • October 12, 2021

    What’s behind Kuwait’s increasing fiscal breakeven oil price?

    For long, Kuwait’s fiscal breakeven oil price remained low and it had been a key strength for the economy. However, the situation is fast changing. Fiscal breakeven oil price can be defined simply as the oil price that balances an oil‐exporting country’s fiscal budget. Upon comparing a country’s fiscal breakeven oil price with the international oil price, one can gauge the fiscal health of the country. Lower fiscal breakeven oil price than the market price would lead to surplus and...