Gulf Stocks

  Reuters Most Middle Eastern stock markets closed higher on Thursday after a tumultuous year in which many bourses were hit hard by low oil prices, then recovered in the final few months as the economic outlook improved. Fund managers generally expect a stronger performance in 2017 because of the rebound in oil prices over the past couple of months, ...

  Reuters Major Gulf stock markets were mixed in quiet trade on Wednesday although some second-tier Saudi petrochemical stocks rose sharply after oil prices climbed overnight. The main Saudi index traded higher for much of the day but closed 0.2 percent lower as Saudi Electricity, which had risen after last week’s state budget for 2017 promised to raise electricity tariffs, ...

  Reuters Banking shares boosted Saudi Arabia’s stock index on Tuesday to its highest level this year, while other Gulf markets moved little in quiet trade with some foreign investors absent for New Year holidays. The Saudi index closed up 1.3 percent at 7,257 points in its highest trading volume for two weeks, rising above technical resistance at this year’s ...

  Reuters The Saudi Arabian stock market’s post-budget rally ran out of steam on Monday as the index neared technical resistance, while United Arab Emirates bourses outperformed the region. The Saudi index added 1.5 percent on Sunday in reaction to Riyadh’s modestly expansionary state budget for 2017. But it closed 0.3 percent lower at 7,166 points on Monday in lower ...

  Reuters Saudi Arabia’s stock market rose sharply on Sunday in response to the release of the 2017 state budget, which includes an increase in government spending, while other major Gulf bourses were sluggish and Egypt retreated on profit-taking. The Saudi stock index added 1.5 percent to 7,191 points, nearing technical resistance on this year’s peak of 7,235 points, hit ...

  Reuters Saudi Arabia’s stock market edged up on Thursday before the release of the kingdom’s state budget for 2017, while Egypt’s uptrend slowed. Other Gulf markets were mixed in modest trading volumes. The Saudi stock index added 0.4 percent. Much activity focused on second-tier stocks such as Saudi Printing and Packaging, which jumped 10 percent. Saudi Electricity climbed 0.7 ...

  DUBAI / Reuters Saudi Arabia’s stock market rose on Wednesday on the eve of the government’s release of its 2017 budget, and Egypt’s extended a bull run fuelled by for- eign money and last month’s float of the Egyptian pound. The Saudi stock index climbed 0.4 percent, though trading volume shrank to its lowest level in two months as ...

  Reuters Egypt’s blue chip stock index surged to a record high on Tuesday while Qatar’s market was supported by a potential $44 billion bank merger but other major Gulf bourses were dampened by profit- taking. Cairo’s index jumped 3.4 percent to 12,148 points, exceeding its previous all-time high of 12,039 points reached in April 2008. The index is up ...

  DUBAI / AFP Egypt’s stock index surged 3.1 percent in heavy trade on Monday as the Egyptian pound depreciated against the US dollar, prompting more buying by foreign funds, while Gulf bourses diverged. Twenty-seven of the 30 most liquid Egyptian shares rose, taking the index to a fresh eight-year high, with Telecom Egypt and Global Telecom Holding each jumping ...

  Reuters Stock markets in the Gulf posted small gains on Sunday after crude oil prices climbed back towards 17-month highs at the end of last week, but trading volumes shrank across the region. Foreign buyers continued to bid up shares in Egypt. Brent futures rose 2.2 percent to settle at $55.21 a barrel on Friday after Goldman Sachs boosted ...