Rate hikes to remain a major headwind for GCC equities
02 October 2022 | Admin
The Week Ahead - Regional Markets
The continued battering of the global equity markets on global recession fears is likely to remain a significant headwind for the regional equity markets this week. Investors may also exercise caution as the 3Q 2022 earnings season will begin in a few days. A recovery in crude oil prices last week on indications that OPEC+ might cut output, though, could offer some respite.
This week, National Corporation for Tourism & Hotels' BoD is expected to review results for the 8-month period ending August 2022. In addition, eXtra's shareholders will consider approving an increase of the company's share capital by 33.33%, partially through a bonus issue, whereas shareholders of Abdul Mohsen Al Hokair Group for Tourism & Development may consent to a share capital reduction to extinguish accumulated losses.