Prospect of aggressive rate hikes to weigh on markets
28 August 2022 | Admin
The Week Ahead - Regional Markets
Crude oil prices recovered with Brent closing a tad above the $100 per barrel mark last week, primarily buoyed by comments from Saudi Arabia's Energy Minister that OPEC could reconsider production cuts to support prices. Separately, global equities came under pressure as the US Fed's Chief's comments at a symposium and the ECB's minutes signaled interest rate hikes aren't likely to stop soon. These factors could lead to mixed sentiment in the regional markets. This week, Ithmaar and RAK Insurance's Board will discuss 2Q 2022 results and forecasts for 2H 2022, respectively. In addition, STC seeks shareholders' approval on a capital increase through bonus shares. NBO, Fincorp, Ahli Bank, Raysut Cement, etc., are expected to host their 2Q 2022 earnings calls.