Recovery in global equities and oil could lift sentiment
14 August 2022 | Admin
The Week Ahead - Regional Markets
The regional equity markets are likely to witness mixed to positive investor sentiment amid a rally in global equity markets, a gradual recovery in crude oil prices, and a mixed global oil demand outlook given by the IEA and OPEC. While the IEA raised its global demand by 380,000 barrels per day (bpd), OPEC reduced it by 260,000 bpd. Yet OPEC's estimates are higher at 3.1 million bpd vs. IEA's 2.1 million bpd.
In terms of corporate activity, this week, Saudi Aramco, BILDCO, KIPCO, JTC, NREC, Mannai, and Zad Holding, among others, are expected to announce their last quarter's financial results. Meanwhile, Sohar International Bank's shareholders will consider increasing share capital from OMR400 million to OMR1 billion.