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Bloomberg
Middle Eastern stocks rose on Sunday following a rally in emerging-market assets at the end of last week as the US outlined steps to reopen its coronavirus-shuttered economy.
Dubai’s DFM General Index climbed 2.6% as of 10:07 am local time, while gauges in Abu Dhabi and Kuwait advanced as much as 1.5%. MSCI Inc.’s index of developing-nation stocks strengthened 1.9% on April 17.
In the Gulf, Oman’s Bank Muscat reported net income of 33.3 million rials ($86 million) for the first quarter, a decline of 27% versus the same period last year, after the lender took precautionary provisions because of the virus and the drop in oil prices. In Dubai, Mashreqbank posted net income of AED450 million.
Other companies expected to deliver numbers this week include Dubai’s Emirates NBD Bank PJSC and Saudi Arabia’s Saudi Telecom company.