GCC markets recovered smartly after a weak performance in January 2008. In the last two months, (Dec – Feb) the markets have showed signs of mean reversion. All the GCC markets posted strong returns in February 2008. The Omani market outperformed other GCC markets during February and posted a MoM return of 13.0%. The Omani market was closely followed by the Qatari market, which posted a MoM return of 10.4% in February. Kuwait, the top performer for January 2008 with returns of 7.5% recorded gains of 3.8%. Furthermore, in February, volatility levels declined in the region after witnessing a spike in January.