01192017Thu
Last update: Thu, 19 Jan 2017 08pm

Middle East & Africa

Markets - Equity - Middle East & Africa

Gulf soft, Saudi edges down despite reform announcement DUBAI: Gulf stock markets were soft early on Thursday after oil prices and global bourses pulled back, while Saudi Arabia edged down despite the Saudi regulator's announcement that it would ease restrictions on foreign investment sooner than expected.The Saudi index fell 0.3 percent in the first 75 minutes of trade with most banks and many second-tier stocks weak, though Arabian Pipes, a supplier to oil giant Saudi Aramco, jumped 4.9 percent in unusually heavy trade.The Capital Market Authority said late on Wednesday that it would relax curbs on foreign institutional investors on Sept. 4, sooner than the mid-2017 deadline previously indicated.Among the reforms are a much lower minimum assets-under-management requirement for foreign institutions, and an easing of restrictions on foreign ownership of individual shares. But while fund managers say the changes are good news, they believe there may not be any sudden increase of foreign fund inflows into Saudi Arabia, ...

Markets - Equity - Middle East & Africa

Qatar, Egypt climb to multi-month highs, Saudi cools DUBAI: Stock markets in Qatar and Egypt rose to fresh multi-month highs on Wednesday, following global bourses higher, but Saudi Arabia's index pulled back as oil gave up some of its recent gains.Doha's main index added 0.7 percent to 10,996 points, a new nine-month high. Stocks most exposed to foreign capital flows were among the top gainers, with Islamic lender Masraf Al Rayan advancing 2.9 percent.Cairo's main index recovered from the previous session's 0.9 percent ...

Markets - Equity - Middle East & Africa

Qatar up on emerging fund inflows, Gulf slightly higher DUBAI: Qatar's main stock index outperformed its peers in early trade on Tuesday as emerging market funds continue to hunt for bargains there.Doha's main index rose 0.7 percent as 11 of the 12 Qatari shares that are members of the MSCI emerging market index advanced. Petrochemical conglomerate Industries Qatar was up 2.2 percent and Qatar National Bank rose 0.6 percent.Dubai's index was up 0.3 percent, boosted by a 0.9 percent gain in Emaar Properties. Other ...

Markets - Equity - Middle East & Africa

Qatar, Egypt rise to multi-month highs; petchems support Saudi DUBAI: Stock markets in Qatar and Egypt closed at multi-month highs on Monday on the back of firm global bourses, while Saudi Arabia's stock market was supported by a recovery in oil prices. Qatar's index rose 1.2 percent to 10,920 points, a nine-month high. Vodafone Qatar jumped 6.0 percent in unusually heavy trade and the largest listed stock, Qatar National Bank, added 2.3 percent. Abu Dhabi's index reversed an early decline to add 0.1 percent ...

Markets - Equity - Middle East & Africa

Bourses to start week on strong footing DUBAI: Stock markets in the Middle East look set for gains on Sunday after Wall Street jumped to a record high and emerging markets were boosted by a fresh round of stimulus from the Bank of England. On Friday the Dow Jones industrial average rose 1.04 percent as a strong jobs report spurred optimisim and emerging market stocks were on track for a fourth week of gains with MSCI's emerging market index rising 1 percent. ...

Markets - Equity - Middle East & Africa

Gulf starts week on strong footing, Egypt slips back DUBAI: Strength in international equities markets at the end of last week helped lift share prices in the Gulf on Sunday with markets most exposed to foreign capital inflows outperforming, while Egypt slipped on profit-taking. Dubai's index climbed 1.1 percent.Four-fifths of the traded shares advanced, with companies which have not yet reported quarterly earnings attracting the most volume. Builder Arabtec climbed 3.4 percent and amusement park developer Dubai Parks and Resorts added 1.7 percent.Blue chips ...

Markets - Equity - Middle East & Africa

Gulf prices edge up with rise in overseas markets DUBAI: Strength in international equities markets at the end of last week helped lift share prices in the Gulf in early trade on Sunday.Dubai's index added 0.6 percent as mid-cap shares outperformed. Construction firm Arabtec, which has yet to publish its quarterly financial report, added 3.4 percent.Similarly, mid-cap shares helped push Abu Dhabi's index up 0.1 percent. RAK Properties was 1.7 percent higher.Qatar's main index climbed 0.2 percent in very thin volume with 10 of ...