NBAD investment head does not expect regional equities to pick up any time soon | The National:
"A top NBAD executive yesterday ruled out spectacular gains in regional equity markets this year amid expectations of slower economic growth given the steep decline in oil prices.
“At this price of oil it’s difficult to be bullish,” said Gary Dugan, National Bank of Abu Dhabi’s global wealth chief investment officer and head of investment strategy. “The GCC has a period of adjustment to lower oil prices. The corporates are starting to feel it and we’ve only had it for a matter of weeks. If it goes on for months and it doesn’t seem to go away as a problem then companies will have to adjust.”
Stocks in the Arabian Gulf took a hammering in December as the price of crude oil plummeted more than 30 per cent, with many benchmark equity indexes including Dubai dropping just as much before making a partial recovery. As a result, Dubai’s main gauge pared its 2014 gains to 12 per cent and so far this year has dropped 1.4 per cent."
'via Blog this'
No comments:
Post a Comment