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Mideast Stocks: Emirates NBD boosts
June 18, 2019--Dubai, all major Gulf markets gain
Major stock markets in the Gulf rose on Tuesday, led by financials including Emirates NBD in Dubai.
Markets have steadied after falling late last week following attacks on tankers in the Gulf of Oman on Thursday. The attacks raised fears of a military confrontation in a vital shipping route for global oil supply and heightened tensions between Iran and the United States, which have been in a standoff over Iran's nuclear programme.
Mideast Stocks: Saudi snaps losing streak, other Gulf markets mixed
June 17, 2019--The Saudi market rose moderately on Monday, recovering some losses from previous sessions with most of its stocks gaining. Other indexes in the Gulf were mixed with Abu Dhabi and Qatar extending losses following last week's oil tanker attacks.
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Mideast Stocks: Banks lift Saudi stocks; other major Gulf markets mixed
June 17, 2019--The Saudi index gained 0.4%. Al Rajhi Bank rose 0.6% and National Commercial Bank gained 0.3%
Saudi Arabia's stock market rebounded on Monday, led by its banking shares, while other major Gulf stocks were mixed after last week's oil tanker attacks.
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Monthly markets review: MENA markets plunge in May; Saudi stocks worst hit
June 13, 2019--Stock markets in the region dropped sharply in May as a plunge in oil prices and global markets weighed on investor sentiment. Trading activity was mainly subdued during the holy month of Ramadan.
The aggregate stock market index of the six Gulf Cooperation Council (GCC) countries + Egypt dropped 2.76 percent during the 31-day period.
Mideast Stocks: Major Gulf markets slide after suspected attack on tankers
June 13, 2019--All major Gulf stock markets dropped on Thursday after suspected attacks on tankers in the Gulf of Oman, with a missile strike by Yemen's Houthi rebels on a civilian airport in southern Saudi Arabia also weighing on risk sentiment.
Two tankers were hit in the suspected attacks and their crews were evacuated, shipping sources said. Four tankers in the region were struck in a similar incident a month ago.
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Mideast Stocks: Banks bolster Saudi, financials drag Abu Dhabi
June 12, 2019--Saudi Arabia's stock market rose sharply for the fourth session on Tuesday, boosted mainly by its banking shares on expectations of further capital inflows, while Abu Dhabi was weighed down by financials.
The Saudi index was up 1.6% with all its banks gaining. Al Rajhi Bank added 1.5% and National Commercial Bank climbed 3.3%.
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Mideast Stocks: Oil price fall, renewed global woes weigh on Gulf stocks
June 12, 2019--Saudi's index was down 0.3% in early trading with Al Rajhi Bank dropping 0.8%
All major Gulf markets dropped on Wednesday, mostly with financial sector shares taking a hit from falling oil prices and renewed weakness in global equity markets.
Oil prices fell nearly 2% on Wednesday, weighed down by weaker demand outlook and a rise in U.S. crude inventories despite growing expectations of ongoing OPEC-led supply cuts.
Mideast Stocks: Saudi continues winning streak, other Gulf markets mixed
June 12, 2019--Dubai ends four-day winning streak
Saudi Arabia's stock market rose for a fifth straight session on Wednesday as nearly all its banks gained, while other major Middle Eastern markets were mixed.
Saudi's index closed 1.1% higher with National Commercial Bank, the country's largest lender, gaining 2.7% and Al Rajhi Bank adding 1%.
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Mideast Stocks: Saudi rises for a fourth day, UAE markets retreat
June 11, 2019--Saudi Arabian shares rose for a fourth straight day on Tuesday on expectations of further capital inflows into the market, while Abu Dhabi and Dubai fell after rising in recent sessions.
The Saudi index was up 0.4% in early trading. Financials were the biggest boost with Al Rajhi Bank and Alinma Bank gaining 1% each. Saudi Telecom traded 1.3% higher.
A topsy-turvy May for GCC markets: Markaz
June 10, 2019----Kuwait Financial Centre "Markaz" recently released its Monthly Markets Review report.
Kuwait Financial Centre "Markaz" recently released its Monthly Markets Review report. Markaz report stated that Kuwait registered the best yearly performance of 17% followed by Saudi Arabia at 8.8%. Kuwait market was resilient to the negative sentiment that prevailed in the regional and global equity markets.
Kuwait's resilience is noteworthy in an otherwise choppy month where the pan GCC index fell by nearly 5%. The S&P GCC composite index recorded its worst monthly losses in over three years. Trade tensions between U.S.-China and regional geopolitical uncertainties resulted in investor sentiments turning sour despite the positive events in GCC’s equity markets. The global story was no different as the positive start to 2019 for the U.S. and Emerging markets came to a halt. Oil prices also witnessed a decline after registering substantial gains in previous months.