Gulf Stocks

  DUBAI / Reuters Middle Eastern equity markets diverged on Monday, with last week’s top gainers pulling back on profit taking while strong quarterly earnings from courier firm Aramex bolstered Dubai. The Saudi Arabian index fell 0.7 percent, snapping seven consecutive sessions of gains. Twelve of the 14 listed petrochemical producers pulled back as Brent oil futures fell near $55 ...

  DUBAI / Reuters Middle East stock markets were mixed on Sunday as uptrends in Saudi Arabia and Kuwait continued to divert regional investors’ money away from the United Arab Emirates and Qatar. The Saudi index, which climbed 3.8 percent last week, rose a further 0.7 percent. Miner Ma’aden jumped 5.3 percent after issuing a statement describing progress in expanding ...

  DUBAI / Reuters Gulf stock markets were mixed on Thursday, supported by strong global equities and oil prices, while Egypt surged on the back of the success of Cairo’s international sovereign bond issue. The Saudi index edged up 0.1 percent though losing stocks outnumbered gainers by 99 to 52. Petrochemical blue chip Saudi Basic Industries added 1.0 percent, while ...

  DUBAI / Reuters Stock markets in Saudi Arabia and Kuwait continued uptrends on Wednesday, attracting regional investors’ money away from the United Arab Emirates, which pulled back. The Saudi index rose 0.5 percent, climbing for a fifth straight day. It has been buoyed by hopes for better conditions in the non-oil sector this year as government austerity measures slow. ...

  DUBAI / Reuters Saudi Arabia’s stock market continued rebounding on Tuesday in a generally strong Gulf region, while a drop by shares in real estate firm Emaar Misr dragged down Egypt. The Saudi index climbed 1.1 percent, adding to Monday’s 1.7 percent gain. With the fourth-quarter earnings reporting season more or less over, many Saudi firms have posted flat ...

  DUBAI / Reuters Saudi Arabia outperformed other Gulf stock markets on Monday as several major stocks bounced after poor earnings earlier this week, while a bull run in Kuwait slowed and Egypt rebounded sharply from a slide triggered by tax fears. The Saudi index rose 1.7 percent in the highest trading volume since Jan. 2. Food maker Savola, which ...

  DUBAI / Reuters Share prices in Kuwait jumped in very heavy trade on Sunday, the top performing market in a strong Gulf region, while tax fears continued to weigh on prices in Egypt. The Kuwaiti market index surged 3.2 percent, its biggest rise in more than two years, to a 23-month high, while trading volume was the biggest since ...

  DUBAI / Reuters Egypt’s blue-chip stock index tumbled on Thursday after Reuters reported that authorities were considering temporarily reintroducing a stamp duty on stock market transactions, while Saudi Arabia was supported by quarterly corporate earnings. The index dropped 3.7 percent, its largest single-day decline since June 2016. Local traders were heavy net sellers after a Finance Ministry source, speaking ...

  DUBAI / Reuters Shares in Saudi Electricity Co (SEC) weighed on Saudi Arabia’s stock market on Wednesday after the company reported a wider net loss for the fourth quarter, while Egypt’s index pulled back as local traders booked gains in blue chips. The Saudi equities index edged down 0.3 percent as SEC slumped 3.4 percent after posting a quarterly ...

  DUBAI / Reuters Qatar’s stock market rose to a multi-month high on Tuesday in the heaviest volume since late November, buoyed by the banking sector, while firmer oil prices supported the rest of the Gulf and foreign investors bought up Egyptian shares. Qatari Islamic bank Masraf Al Rayan jumped 4.0 percent to 40.45 riyals after its board recommended a ...