Further information

Abu Dhabi

Abu Dhabi was the third best performer in the MENA region during 2012, after Egypt and Dubai, having gone up by c.9.0%, with Arabs and foreigners being net buyers during the year. Sectors in Abu Dhabi witnessed mixed performances, with the consumer staples and real estate sectors being the best performers during the year, going up by over 50% and 40%, respectively, while the insurance and services sectors were the worst performers during the year, falling by around 18.0% and 8.0%, respectively. By the end of 2012, Abu Dhabi traded at a cheaper P/E for 2012e compared to MENA and emerging market averages. We assign Abu Dhabi an equal-weight outlook in 2013 given a weak performance forecast for the year. We favor, however, the country’s political stability, having survived the unrest that swept the MENA region. We remain cautiously selective with stocks across sectors in Abu Dhabi.

 

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Page: Markets > UAE > Abu Dhabi
URL: http://www.beltonefinancial.com/abudhabi1