Gulf Stocks

Saudi stocks pull back before FTSE decision

Reuters Saudi Arabia’s stock market pulled back because of profit-taking on Wednesday ahead of a decision by index compiler FTSE Russell on whether to upgrade Riyadh to emerging market status, while most other regional bourses were also weak. The Saudi index has surged in recent weeks on expectations of a positive decision by FTSE on Wednesday. If MSCI also decides ...

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Saudi market climbed to 31-month high

Reuters Saudi Arabia’s stock market climbed to a 31-month high on Tuesday, once again outperforming the rest of the region in anticipation of a positive decision by FTSE on Wednesday to include the kingdom in its secondary emerging markets index. The Saudi index rose 1.1 percent, bringing its gain so far this year to 9.9 percent. A positive decision by ...

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Gulf stocks muted, Saudi bourse closes up despite missile attacks

Reuters Middle Eastern stocks were mixed on Monday with investors in Saudi Arabia largely ignoring an apparent escalation in the country’s three-year war with Yemen, after the conflict caused its first civilian death within Riyadh. The kingdom’s air defences shot down seven ballistic missiles fired by Yemen’s Houthi forces late on March 25, and debris killed an Egyptian resident of ...

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Dana Gas lifts Abu Dhabi; some Saudi blue-chips advance

Reuters Gulf stock markets were generally little changed on Sunday, though Abu Dhabi’s Dana Gas surged on news of plans for its first annual dividend for several years. The Abu Dhabi index rose 0.8 percent as Dana Gas jumped 8.3 percent after the board said it would seek shareholder approval for a cash dividend for 2017 totalling 5 percent of ...

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Blue-chips lift Saudi, Aldar, Emaar climb

Reuters Saudi Arabia’s stock market rose on Wednesday, lifted by its expected inclusion in the secondary FTSE emerging market index, while United Arab Emirates’ markets were boosted by its top two property companies. The Saudi index gained 0.5 percent to close at 7,762 points, backed by leading stocks that investors expect to attract foreign funds if the FTSE upgrade is ...

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Financial stocks largest gainers in Saudi market

Reuters The region’s biggest market, Saudi Arabia, was up 0.2 percent with financial stocks among the largest gainers ahead of an expected decision by FTSE at the end of this month to include Riyadh in its secondary emerging market index. Al Rajhi Bank, the kingdom’s second largest bank by assets, rose 1.7 percent, while Saudi British Bank was up 2.3 ...

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Gulf stocks soften despite oil rebound

Reuters Gulf stock markets eased on Sunday as gains in oil prices at the end of last week failed to spur activity, though Ezz Steel helped to lift Egypt’s index. There was very little action in the United Arab Emirates, with both Dubai and Abu Dhabi registering among their lowest trading volumes this year as the indexes fell marginally. Emaar ...

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Mideast stock markets mostly soft, Saudi surges

Reuters Most Middle Eastern stock markets were soft on Wednesday with Qatar pulling back after two days of strong gains, but a few individual stocks in Saudi Arabia rose sharply in response to positive news. Islamic insurer Al Khaleej Takaful tumbled 9.1 percent after saying on Tuesday that it would distribute no dividend for 2017, after the central bank asked ...

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Foreign fund hopes boost Saudi, Emirates NBD bank soars in Dubai

Reuters Expectations for inflows of foreign funds in coming months boosted Saudi Arabia’s stock market to a multi-year high on Sunday, while a leap by Dubai’s biggest bank, Emirates NBD, lifted that index. The Saudi index surged 1.8 percent, its biggest daily gain since last June, to 7,696 points, its highest finish since November 2015. The index, which had added ...

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Gulf stocks down with global markets; Saudi, Egypt defy trend

Reuters Gulf stocks mostly fell on Wednesday, with only Saudi Arabia resisting a broad decline in global markets after the resignation of a key White House economic adviser sparked fears of a trade war. The departure of Gary Cohn, who had opposed US President Donald Trump’s plan for tariffs and was seen as a bulwark against protectionist forces within the ...

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