Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

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MG Weekend Close

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Good Evening from Mettis Global News!

  • KSE – 100 had its ups and down throughout the week as investors weighed in on the ongoing political situation and macro imbalances
  • Election was announced by the Election Commission of Pakistan (ECP) to be held during July 25 to July 27th of Pakistan as Mr. Nasir-ul-Mulk was sworn in as care-taker Prime Minister of Pakistan. Read more on how KSE – 100 Index performed during the last four caretaker governments.
  • However, the turbulence ensued as Balochistan moved the case for delaying elections, PTI rejected care-taker agreed upon for Punjab and KPK. Meanwhile, Sindh’ PPP and MQM both agreed upon former Chief Secretary (2007 – 10) Mr. Fazlur Rehman as the caretaker Chief Minister for Sindh

KSE – 100 Index Performance

  • Pakistan’s equity market during the outgoing week returned 2 percent to investors, where four out of five sessions closed positive.
  • Investor sentiment was uplifted in the market after the finalization of care-taker Prime Minister. Furthermore, the recovery in global markets (especially Italy crisis) helped the market strengthen investor sentiment closing the market at 42,913 index level, gaining 839 points.
  • Attock Refinery (ATRL) and National Refinery (NRL) remained among top performers during the week, where both gained around 24% and 17% respectively in their value.

Investors will keep their eyes on State Bank of Pakistan’s release on Forex Reserves, Trade Data, and weekly Sensitivity Price Index. Amongst other equity news, Murree Brewery is expected to approve and consider their annual budget.

What is happening in the world

Time

Country

Event

Previous

Tuesday 05 June 2018

9:30AM

Australia

RBA Interest Rate Decision

1.5%

7:00PM

US

ISM Non-Manufacturing PMI (MAY)

56.8

Wednesday 06 June 2018

6:30AM

Australia

GDP Growth Rate QoQ Q1

0.4%

6:30AM

Australia

GDP Growth Rate Y0Y Q1

2.4%

2:00PM

India

RBI Interest Rate Decision

6%

5:30PM

Canada

Balance of Trade APR

C$ -4.14B

5:30PM

US

Balance of Trade APR

$ -49B

7:00PM

Canada

IVEY PMI s.a MAY

71.5

Thursday 07 June 2018

6:30AM

Australia

Balance of Trade APR

A$ 1.53B

2:00PM

Euro Area

GDP Growth Rate QoQ 3rd Est Q1

0.7%

2:00PM

Euro Area

GDP Growth Rate YoY 3rd Est Q1

2.8%

Friday 08 June 2018

8:00AM

China

Balance of Trade MAY

$28.78B

8:00AM

China

Exports YoY MAY

12.9%

8:00AM

China

Imports YoY MAY

21.5%

11:00AM

Germany

Balance of Trade APR

€25.2B

5:30PM

Canada

Employment Change MAY

-1.1K

5:30PM

Canada

Unemployment Rate MAY

5.8%

Saturday 09 June 2018

6:30AM

China

Inflation Rate YoY MAY

1.8%

Posted on: 2018-06-02T17:05:00+05:00