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Mideast Stocks: Gulf shares dip as Fed hints no further rate cuts
August 1, 2019--Major Gulf stock markets fell on Thursday after the U.S. Federal Reserve cut interest rates by 25 basis points but, significantly, signalled the move may not mark the beginning of a long easing cycle.
Markets had been looking for the Fed to signal more cuts were coming.
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Mideast Stocks: Saudi shares rise as NCB gains; financials weigh on Qatar
July 31, 2019--Saudi stocks rose on Wednesday as the earnings at National Commercial Bank boosted financial stocks. However, financial shares weighed down the Qatar market.
Saudi's index edged up 0.1%. The country's biggest bank, National Commercial Ban,, gained 0.7% after posting a 24% rise in second-quarter profit, helped by higher fee and commission income and lower expenses.
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Saudi Arabia's new robo-advisory services set to attract millennial, women investors
July 31, 2019--Two Saudi firms have been granted experimental permits to test robo-advisory services and computer-generated advice for investors, a move that could potentially tap new segments of investors in the region's largest capital market.
The Saudi Capital Market Authority (CMA) announced on Tuesday that it has given its approval to Wahed Capital and Haseed Investing Company to test their robo-advisory services.
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Mideast Stocks: Petchems lead Saudi lower, financials drag down Qatar
July 31, 2019--Saudi stocks dropped on Wednesday as losses in petrochemical shares outweighed earnings-fuelled gains in some banking stocks, while Qatar Insurance pulled the Qatari market down.
Saudi's index slipped 0.1%, with petrochemical maker Saudi Basic Industries Co2010.SE shedding 1.1% after earlier this week reporting its lowest quarterly profit since late 2009.
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Mideast Stocks: Positive bank results boost Saudi, other Gulf markets mixed
July 30, 2019--Saudi Arabia's stock market rose on Tuesday in a recovery from the previous session's biggest single-day loss in a month as strong earnings from two lenders boosted bank shares, while other Gulf bourses were mixed.
The Saudi index was up 0.4%.
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Mideast Stocks: Saudi edges up on strong earnings, Dubai extends gains
July 30, 2019--Saudi Arabian stocks edged up on Tuesday, recovering from the previous session's biggest single-day loss in a month, as strong earnings from two lenders boosted most bank shares.
Dubai's bourse consolidated gains after touching nearly a year-high on Monday.
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Mideast Stocks: Poor earnings lead major Gulf markets lower
July 29, 2019--Major Gulf markets dropped on Monday as a string of disappointing corporate earnings hurt the investor sentiment in the region, with Saudi Arabia underperforming other bourses amid falling banking shares.
Saudi's index was down 0.7% as all its lenders slipped into negative territory with Al Rajhi Bank dropping 1.7% in the biggest drag on the index.
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Mideast Stocks: Saudi rises for second straight session as Abu Dhabi winning streak ends
July 28, 2019-- Financial shares helped lift Saudi Arabia's stock market for a second consecutive session on Sunday, while top lender First Abu Dhabi Bank (FAB) weighed on the Abu Dhabi bourse, bringing an eight-session streak of gains to an end.
The Saudi index rose 0.5% with Al Rajhi Bank and Riyad Bank gaining 1% and 3.1% respectively.
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Mideast Stocks: Banks hurt Saudi; Dubai continues to gain on Emaar
July 25, 2019--Saudi Arabia's stock market fell on Thursday, with Al Rajhi Bank, the country's second largest lender by assets, weighing on the index, while Dubai extended its series of gains on the back of top developer Emaar Properties.
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Mideast Stocks: Positive earnings end Saudi losing streak, COMI weighs on Egypt
July 25, 2019-Strong corporate earnings helped Saudi Arabia's stock market snap five days of losses, while top lender Commercial International Bank weighed on the Egyptian bourse.
In Saudi Arabia, the index bounced back 0.4%, with Saudi Arabian Mining Company jumping 6.5%, and Sahara International Petrochemical (SIPCHEM) climbing 5.2% after it reported flat quarterly profit of 210.9 million riyals ($56.2 million) beating EFG Hermes' forecast of 188 million.
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