Gulf Stocks

Reuters Egypt’s stock market on Tuesday recovered some of the previous day’s heavy losses while Gulf bourses were weaker as investors booked profits ahead of the holy month of Ramadan, when trading volumes and liquidity often decrease. Cairo’s index rebounded 1.1 percent after tumbling 2.5 percent on Monday, its largest single-day decline since Jan. 19, after the central bank unexpectedly ...

Reuters Egypt’s stock market tumbled in heavy trade on Monday after the central bank unexpectedly raised key interest rates overnight, while Qatar outperformed in an otherwise quiet Gulf. Cairo’s blue-chip index dropped 2.5 percent after the central bank hiked its overnight deposit rate and overnight lending rate by two percentage points — its first increase since a hike of three ...

RIYADH / Reuters Saudi Arabia’s stock market outperformed a sluggish region on Sunday after US and Saudi companies signed over $200 billion of deals during the visit to Riyadh by President Donald Trump. Few of the deals involved listed Saudi companies, and many had been previously announced, or were merely memorandums of understanding that might never lead to concrete projects. ...

Reuters Stock markets in the Middle East most exposed to foreign fund flows followed glo- bal shares lower on Thursday, while the Saudi Arabian index, dominated by local investors, outperformed the region for the day and the week. Dubai’s index lost 0.5 percent as most shares that are constituents of the MSCI emerging market index dropped. DXB Entertainments slumped 4.3 ...

DUBAI / Reuters Shares of Egypt’s EFG Hermes and Talaat Mostafa diverged sharply on Tuesday on news that MSCI will swap the shares in its main Egyptian index, while Gulf equity markets were firm with the Brent oil price at $52 a barrel. Overnight, MSCI said it would include investment bank EFG Hermes in its MSCI Egypt Index but remove ...

DUBAI / Reuters Middle Eastern stock markets were mixed on Monday with Saudi Arabia rising on the back of a rebound in oil prices and a continued slide by amusement park operator DXB Entertainments helping to drag down Dubai. The Saudi index climbed 0.6 percent. Top petrochemical producer Saudi Basic Industries, whose margins could benefit from higher oil prices, gained ...

Dubai / Reuters Most Gulf stock markets edged down on Sunday with Saudi Arabia dampened by a much wider first-quarter loss at PetroRabigh, while agreement between the International Monetary Fund and Cairo did little to help Egypt’s bourse. The Saudi stock index slipped 0.4 percent as PetroRabigh tumbled its 10 percent daily limit after reporting that its quarterly loss ballooned ...

ABU DHABI / Agencies UAE stocks closed on a high note on Thursday, gaining AED8 billion driven by a buying spree over leaders, primarily Emaar Properties which rose AED 7.49 ahead of the company’s announcement of its Q1 financial statements. The Dubai Financial Market (DFM), General Index rose by 0.74 percent to 3,420 points and Abu Dhabi Securities Exchange, ADX, ...

DUBAI / Reuters Rising oil prices lifted energy company stocks in the Gulf on Thursday, but indices were mixed due to some negative earnings reports, especially in Saudi Arabia. The Riyadh index lost 0.7 percent. Savola Group, the kingdom’s largest food products company, reported a 96 percent drop in first-quarter net profit, sending its shares down 2.4 percent. The National ...

  DUBAI / Reuters First quarter results from major companies drove trading on Saudi Arabia’s stock exchange on Wednesday, with the Riyadh index edging 0.2 percent higher, while Qatar’s bourse outperformed as investors bought shares on recent price dips. Majority state-owned Saudi Electricity (SEC) rose 2.2 percent in trading that exceeded its one-month average daily volume after the company swung ...