Solid GCC macro trends insulate region from turmoil | Economy | Saudi Gazette:
"The GCC stock and bond markets remain a safe haven to investors, underpinned by solid fundamentals, Emirates NBD said in its CIO Weekly issued Wednesday.
The Expo 2020, MSCI inclusion of the UAE and Qatari markets in the emerging market (EM) category, infrastructure spending across countries – the GCC Railway project to mention one – the revival of trade, tourism and real estate – as tensions in Egypt, Syria and Iran subside somewhat – are further fueling momentum in the GCC macro trends.
Although we continue to like regional equities, we currently see more value in Saudi, Kuwait and Qatar, which are trading at an average discount of more than 2 percent to the UAE market. This was led higher for the week by Dubai’s DFM, once again the best performing regional benchmark (+4.3 percent) boosted by construction and real estate stocks."
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