Gulf Stocks

  Reuters Profit-taking hit stocks in Egypt and Saudi Arabia on Monday following strong rallies in both markets, while general weakness in emerging markets dragged down the United Arab Emirates and Qatar. Cairo’s blue chip index, which had soared 28.1 percent since the Egyptian pound was floated on Nov. 3, fell 2.0 percent ending 12 consecutive sessions of gains. The ...

  Reuters Gulf stock markets dependent on foreign funds, such as Dubai and Qatar, fell on Wednesday as the region absorbed the shock of Donald Trump’s US election win and prepared for more volatile trad- ing ahead. Trump, feared by markets because of his views on trade, immigration and taxation, may enact policies that could affect the oil price, the ...

  Reuters Egypt’s blue chip equities index jumped on Thursday after the central bank floated the currency, a step which could eventually resolve its hard currency shortage, while Saudi Arabia gained for a second straight week. The Egyptian EGX30 index soared as much as 8.4 percent in the first hour of trade after the central bank devalued the pound by ...

  DUBAI / Reuters Most Gulf stock markets rose early on Wednesday after drops in global bourses and oil prices, but banking shares continued to support Saudi Arabia. In the nine days through Monday, the Saudi index added 10.1 percent in response to the success of Riyadh’s international bond issue, which eased concern about tight liquidity in the banking system. ...

  Reuters Saudi Arabia’s stock market ended a nine-day rising streak on Tuesday as banking shares were hit by profit taking, while bourses in the rest of the region were mixed. The Saudi stock index had surged 10.1 percent over the nine trading days through Monday, led by banks, after Riyadh’s huge international bond issue reduced jitters about the economy’s ...

  Reuters Major stock markets in the Middle East rose slightly on Monday, outperforming sluggish bourses in Asia and Europe, as Saudi banks continued rebounding on the back of October’s huge international bond issue by their government. The bond issue has allowed the government to suspend, at least temporarily, domestic bond sales and, in conjunction with other steps, this has ...

  Bloomberg Saudi Arabian stocks rose the most among Gulf equities, extending their longest winning streak in more than two years on investor optimism the outlook for the kingdom’s banks is improving. Three of the five biggest contributors to an increase in the Tadawul All Share Index were lenders, as the main gauge added 0.7 percent at the close in ...

DUBAI / Reuters Banking shares that had been beaten down earlier this month by fears of slowing global economic growth headed for a seventh day of gains on Thursday, boosting Gulf stock markets despite weakness in Asian bourses and oil prices. The Saudi bank sector has been strong since last week’s big international bond sale by the government partially eased ...

  DUBAI / Reuters Gulf stock markets saw lacklustre trade on Wednesday as low oil prices and weak earnings weighed on investor sentiment. Crude prices declined for a third day, hovering near $50 a barrel for the first time in three weeks, amid doubts that OPEC members will agree to a cut output. “Investor sentiment appears to be weak in ...

  Reuters Banking shares boosted Saudi Arabia’s stock market on Tuesday while the majority of other Gulf markets sagged on uninspiring quarterly results. Egypt recovered sightly, but investors remain anxious over dollar shortage woes. The Saudi stock market index gained 1.5 percent, its fifth consecutive session of gains as all 12 of the listed lenders advanced. Bank Aljazira was the ...