Gulf Stocks

  DUBAI / Reuters A slide in banking shares after earnings at a major bank missed analysts’ estimates dragged down Saudi Arabia’s stock market on Monday, while markets in the rest of the region were mixed. Riyad Bank, the first major Saudi bank to report fourth-quarter earnings, posted a 66 percent fall in net profit to 293 million riyals ($78 ...

DUBAI / Reuters Stock markets in the Gulf diverged on Sunday with Saudi Arabia stalling near a six-week low and Dubai retreating on profit-taking, while Kuwait continued to outperform. Saudi Arabia’s index added 0.1 percent. Nine of the top 10 performers were from the insurance segment with Wafa Insurance in the lead, jumping 9.1 percent. Interest in the sector has ...

  DUBAI / Reuters Saudi Arabia’s stock market edged higher in volatile trade on Thursday but suffered its worst weekly decline since September, while Egypt extended its bull run as international funds accumulated shares. The Saudi index closed 0.4 percent higher at 6,922 points; it remains near a six-week low and lost 3.8 percent over the week. Investors bought shares ...

  DUBAI / Reuters Saudi Arabia’s stock market declined for a fourth straight day on on Wednesday after oil prices fell further, but other Gulf bourses largely moved sideways and Dubai held near a 15-month high. The Saudi index pulled back 1.6 percent to 6,895 points, falling below technical support at the mid-December low of 7,002 points. Another straight close ...

  DUBAI / Reuters Egypt’s stock market rose strongly on Tuesday but foreign funds were net sellers for a second time since the Egyptian pound was floated on Nov. 3. Gulf markets diverged with Saudi petrochemical shares hit by weak oil prices. The Egyptian blue chip index added 1.8 percent to 13,015 points, a fresh all-time closing high, but trading ...

  DUBAI / Reuters Egypt’s main stock index corrected on Monday as local traders booked profits and Gulf markets diverged with United Arab Emirates markets outperforming as traders focused on financial shares while a retreat in oil prices weighed on Saudi Arabian petrochemical producers. Cairo’s main index fell 0.9 percent, snapping four straight sessions of gains. Local institutions were net ...

  DUBAI / Reuters Most Gulf stock markets rose on Sunday on the back of firm oil prices and global equities, but profit-taking in sectors including petrochemicals pulled down Saudi Arabia. Dubai’s index rose 1.8 percent to 3,692 points in the heaviest trading volume in nearly a month, which more than doubled from Thursday’s level. The index climbed above technical ...

  Reuters Egypt’s stock market closed the week at a record high on Thursday as foreign funds continued to buy, while Gulf markets inched up on the back of firmer crude oil and global bourses. Cairo’s index closed 1.7 percent higher at 12,824 points in the heaviest traded volume since mid-November. “Since the float of the currency on Nov. 3 ...

  DUBAI / Reuters Stock markets in the Middle East gained on Tuesday, with those most exposed to international funds outperforming as global equities and crude oil prices firmed on their first full-scale trading day of 2017. Cairo’s main index closed 1.1 percent higher with gainers outnumbering losers 25 to two. Foreign traders were net buyers, exchange data showed, a ...

  DUBAI / Reuters Gulf stock markets were mixed on Monday as most reopened after the New Year, with Oman falling after the release of an austere state budget for 2017. Egypt edged down although foreign investors remained net buyers of stocks. Dubai’s index rose 0.2 percent as much activity focused on speculative stocks with prices below 1 dirham. Islamic ...