Gulf Stocks

Reuters Qatar’s stock market sank to a 19-month low on Monday while other regional bourses were mixed in mostly quiet trade, although Saudi British Bank surged in Riyadh. The Qatari stock index dropped 1.6 percent to 8,532 points, its lowest finish since January 2016, in a broad sell-off that saw declining stocks outnumber gainers by 27 to nine. Qatar National ...

Reuters Stock markets in the Middle East were mixed in narrow ranges on Sunday, with banks and petrochemicals supporting Saudi Arabia while Qatar edged down to a fresh 18-month closing low. The Saudi index rose 0.2 percent. All but two of the 14 listed petrochemical shares advanced after a pick-up in oil prices at the end of last week, with ...

Bloomberg Oil has denied Saudi Arabia the opportunity to overtake South Africa as the biggest stock market in the Middle East and Africa, even as political turmoil and a faltering economy hold back share prices in Johannesburg. The total market capitalisation of the South African bourse was $489 billion, about $25 billion more than that of Riyadh’s after its main ...

Reuters Saudi Arabia’s equities index firmed on Wednesday because of strong oil prices while Qatar fell to its lowest close since January 2016 after index compiler FTSE’s mid-year review hurt some stocks. Brent oil was around $53.50 a barrel, slightly above its level when the Saudi market traded on Tuesday last week, just before it closed for long Eid al-Adha ...

Reuters Kuwait’s stock market outperformed on Tuesday as it reopened after Eid al-Adha holidays, while Abu Dhabi-listed Dana Gas continued surging on the back of a deal to obtain payments from Iraqi Kurdistan. The Kuwaiti index climbed 0.4 percent. Many investors hope index compiler FTSE will decide at the end of this month to upgrade Kuwait to secondary emerging market ...

Reuters Stock markets in the United Arab Emirates were mostly quiet on Monday as they resumed trading after a long holiday weekend for Eid al-Adha, but Abu Dhabi-listed Dana Gas soared after it agreed on overdue payments from Iraqi Kurdistan’s government. Dana jumped 14.1 percent to 0.73 dirham, its highest level since early July, and was by far the market’s ...

DUBAI / Reuters Corporate news boosted a couple of stocks in the United Arab Emirates on Wednesday, while a leap by Global Telecom and strong international markets lifted Egypt’s blue-chip index sharply. Trading volumes have generally been low in the Middle East in recent days because of the approach of Eid al-Adha holidays, which began in Saudi Arabia on Wednesday ...

DUBAI / Reuters Qatar’s stock market dropped on Tuesday after Fitch cut the country’s credit rating, while most other Gulf bourses fell in thin trade but Egypt’s blue-chip index gained strongly, helped by investment firm Qalaa Holdings. Fitch lowered Qatar by one notch to AA-minus with a negative outlook on Monday, citing the impact of sanctions imposed by other Arab ...

DUBAI / Reuters Banks helped nudge stock markets in the Gulf higher on Monday with Saudi Arabian lenders, which may benefit from a potential upgrade of the kingdom by index compiler FTSE at the end of next month, outperforming. Egypt firmed on buying by foreign funds. Late next month FTSE will announce its decision on whether to include Saudi Arabia ...

DUBAI / Reuters Stock markets in the Middle East were mixed on Wednesday with Saudi Arabia finding support from smaller companies while property developers were strong in Dubai. The Riyadh index edged up 0.1 percent. Nine-tenths of the top 20 gainers were small to mid-sized stocks including Saudi Indian Co for Cooperative Insurance (Wafa), which added 1.6 percent after saying ...