Gulf Stocks

Reuters Major Gulf stock markets fell on Wednesday, partly because of retreating global equities and oil prices, though builder Drake & Scull surged in Dubai despite a heavy quarterly loss. The Saudi Arabian Capital Market Authority (CMA) issued a statement before the market opened saying that listed companies would be exempt from publishing fourth-quarter financial statements because they are transitioning ...

Reuters Major Middle East stock markets moved largely sideways on Tuesday with little positive news to spur buying, although GFH Financial continued surging in Dubai after disclosing details of its business strategy. In contrast to recent days, Saudi Arabia’s index spent almost the entire day higher, closing up 0.3 percent. Since the beginning of last week, the market had traded ...

Reuters Saudi Arabia’s stock market rose on Monday, apparently boosted by purchases of shares by state-linked funds, while a surge in GFH Financial lifted Dubai’s bourse. Data released by the Saudi exchange showed local individual investors were net sellers of stocks by a margin of about 13 percent. That pattern appeared to continue on Monday, when the market fell as ...

Reuters Gulf stock markets mostly moved sideways on Wednesday, drawing little strength from rising oil prices, while Egypt pulled back after closing at record highs for three straight days. Brent oil futures rose to $61.70 per barrel, their highest since July 2015, while global equity markets continued climbing. The failure of Gulf bourses to rise on the back of these ...

Reuters Saudi Arabia’s stock market fell on Tuesday despite a big rebound by petrochemical company PetroRabigh, while Dubai Investments helped offset losses by real estate-related shares in that market. The Saudi stock index dropped 0.2 percent as PetroRabigh’s gain failed to bolster the petrochemical sector as a whole while banking and insurance stocks weighed heavily on the market. PetroRabigh jumped ...

Reuters Saudi Arabia’s stock market was soft on Monday despite strong earnings at Saudi Basic Industries Corp (SABIC), while Emaar Properties dragged down Dubai’s index. The Saudi index edged down 0.2 percent. SABIC, the biggest petrochemical producer, gained 0.6 percent after reporting a 10.7 percent rise in third-quarter net profit to 5.79 billion riyals; analysts had on average forecast 4.27 ...

Reuters Petrochemical stocks and an earnings beat by Saudi Telecom Co lifted Riyadh’s stock market on Sunday while other Gulf bourses were sluggish, once more ignoring a strong performance by Wall Street on the previous trading day. The Saudi stock index climbed 0.7 percent. Unusually, four of the 10 most active stocks were petrochemical producers after oil prices rose sharply ...

Reuters Saudi Arabia’s stock market posted a small gain on Wednesday on the back of firm oil prices, seemingly little impressed by heavy investment plans showcased at a major conference in Riyadh. The Saudi index gained 0.3 percent, supported by Saudi Electricity Co (SEC), whose shares rose 4.4 percent after the utility said the Saudi government is considering selling a ...

Reuters Saudi Arabia’s stock market ignored a huge investment conference in Riyadh and remained flat while Emaar Properties and contractor Drake & Scull helped Dubai to rebound on Tuesday. The market barely reacted to bullish news from a major investment conference in the kingdom, which attracted hundreds of bankers, businessmen and government officials from around the world. Crown Prince Mohammed ...

Reuters National Commercial Bank and telecom stocks dragged down Saudi Arabia’s main index while Emaar Properties weighed on Dubai’s stock market for the second day in a row. The Saudi index fell 1.3 percent to 6,886 points on the back of the banking and insurance sectors, as NCB reported an 8.4 percent rise in third-quarter net profit, or around 5 ...