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Bloomberg
Most Middle Eastern equity markets gained at the start of the week, with investors focusing on earnings across the region.
Dubai’s benchmark index rose for a seventh consecutive session as banks and real estate companies climbed. Stock gauges in Bahrain, Oman, Kuwait and Egypt also advanced.
Saudi retailer United Electronics Company, or Extra, finished at a record high after full-year profit beat the average estimate among analysts. Food producer Almarai Co. extended losses to a third day after disclosing profit that missed the lowest estimates.
Other names expected to deliver results this week are National Commercial Bank, Samba Financial Group and National Bank of Kuwait.
Emerging-market stocks and currencies both advanced for a seventh straight week. The MSCI Emerging Markets Index gained 1.2% for the five days ended January 17, and the EM currencies gauge climbed 0.1%.
Dubai’s DFM General Index climbs 1.2%, with Emirates NBD, Emaar Properties and Emirates Integrated Telecommunications rising at least 1.4%. Saudi Arabia’s Tadawul All Share Index falls 0.1%, trimming increase of 1.4% last week.