Market activity to pick up again after Eid holidays
01 May 2022 | Admin
The Week Ahead - Regional Markets
Regional markets will be quiet as the stock exchanges of all the six GCC countries will remain closed for most of the week on account of Eid-al-Fitr. However, those who resume trading towards the end of this week are likely to witness an impact on the outcome of the US Fed’s meeting.
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After slashing the world economy’s growth outlook for 2022, the IMF has raised its economic growth forecast for the GCC considering the positive impact of higher crude oil prices on oil exporters. The IMF expects the GCC region’s GDP to expand by 6.4% in 2022, which is 2.2 percentage points higher than its previous estimate in October 2021, and a 2.7% growth rate in 2021.
The 1Q 2022 earnings cycle will resume full steam ahead immediately after the Eid holidays. To see who has already announced their intention to publish results and host Earnings Calls, please download this week's IR Brief.