09262016Mon
Last update: Mon, 26 Sep 2016 10pm

Middle East & Africa

Markets - Equity - Middle East & Africa

Saudi leads Gulf up as foreign investor limits eased DUBAI: Saudi Arabia led Gulf stocks higher on Sunday as Riyadh eased restrictions on foreign investment in its securities markets, while most other bourses in the region were buoyed by strength in oil prices and global equities at the end of last week. As previously announced, the Saudi Capital Market Authority lowered minimum qualifications for foreign institutional investors in its markets and raised ceilings on foreign ownership in stocks. The reforms are not expected to cause a sudden surge of new foreign money into the kingdom; actual foreign ownership of stocks is well below the previous ceilings.Many investors remain deterred by less-than-attractive valuations and a sharp economic slowdown caused by low oil prices. Nevertheless, the reforms are expected to help stocks in the long term.The main index climbed 1.3 percent on Sunday in a broad-based rise, with petrochemical investment holding company Alujain rising 3.4 percent; before the reforms, foreign institutions ...

Markets - Equity - Middle East & Africa

Gulf rises in quiet trade, Saudi blue chips strong DUBAI: Most Gulf stock markets rose in quiet, early trade on Sunday after oil prices and global bourses climbed on Friday.Saudi Arabia's index added 0.5 percent in the first half hour as, among blue chips, Saudi Basic Industries climbed 0.6 percent and Al Rajhi Bank rose 1.3 percent.In Dubai, the index added 0.7 percent with GFH Financial, the most heavily traded stock, surging 3.1 percent.Abu Dhabi edged down 0.1 percent because of weakness in banks, ...

Markets - Equity - Middle East & Africa

Qatar sags after FTSE list released, oil weighs on Saudi DUBAI: Qatar's main stock index fell sharply for a second straight day on Thursday after FTSE published a list of stocks to be included in its secondary emerging market index, while Saudi Arabian petrochemical stocks sagged because of weak oil prices. Doha's index initially rose but closed down 1.4 percent, taking its losses for the week to 3.0 percent. Although Qatar's upgrade to emerging market status is widely seen as positive for the market, investors ...

Markets - Equity - Middle East & Africa

Qatar falls after FTSE list, Saudi petchems sag DUBAI: Qatar's main stock index fell in early trade on Thursday after FTSE published a list of stocks to be included in its secondary emerging market index, while Saudi Arabian petrochemical stocks sagged because of weak oil prices.The Qatari index initially rose but was down 0.8 percent after 90 minutes. Only two of the 22 stocks due to join the FTSE index on Sept. 20 rose.Although Qatar's upgrade to emerging market status is widely seen ...

Markets - Equity - Middle East & Africa

Qatar takes a breather, Dubai edges higher DUBAI: Gulf stock markets diverged in early trade on Wednesday, with Qatar's edging lower and Dubai's gaining slightly.Qatar's index slipped 0.3 percent after closing higher in four of the last five sessions.After the close on Wednesday, FTSE is expected to release a list of Qatari stocks to be included in its emerging market index from mid-September.Shares in companies which have been rising in anticipation of inclusion were the main laggards in early trade. Telecoms provider ...

Markets - Equity - Middle East & Africa

MIDEAST STOCKS-Qatar outperforms, rest of region sluggish DUBAI: Qatar's stock market outperformed the Gulf on Monday as large-caps carried the index higher, but other bourses were little changed as a fresh slide in oil prices and a retreat in Asian share markets kept buyers away. Qatar's main index added 0.6 percent, taking its gains over the past month to 5.4 percent. Qatar National Bank rose 1.0 percent and petrochemical producer Industries Qatar climbed 2.5 percent. Both stocks are on a provisional list ...

Markets - Equity - Middle East & Africa

Gulf stocks move little in thin trade DUBAI: Gulf stocks moved little in early, thin trade on Monday as a fresh slide in oil prices and a retreat in Asian share markets kept buyers away.Dubai's index was flat as stocks mainly traded by local investors were the top movers. Insurer Takaful Emarat Insurance gained 3.4 percent but Ajman Bank fell 1.3 percent.In Abu Dhabi, the index edged up 0.3 percent with gainers outnumbering losers 12 to three. Union National Bank added 1.4 ...