09272016Tue
Last update: Tue, 27 Sep 2016 03pm

Middle East & Africa

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 of about 20 which index compiler FTSE has said may be included in its secondary emerging markets index. A final list of stocks to be included will be announced after the close on Wednesday.Dubai's index edged up 0.1 percent. Courier Aramex climbed 2.3 percent to 4.09 dirhams in a second straight day of unusually heavy trade; it has jumped 7.5 percent over the past week, and is now trading close to the median fair value ...

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 ...

Markets - Equity - Middle East & Africa

Saudi keeps falling on economy fears, UAE firm DUBAI: Most Gulf stock markets fell on Thursday with Saudi Arabia sliding for a fifth straight day, led by banks, but United Arab Emirates bourses were firm. Egypt sank as blue chip Orascom Telecom Media and Technology Holding reported a loss.The Saudi index, which on Wednesday fell below minor technical support on the April low of 6,066 points, sank 0.9 percent on Thursday to a six-month closing low of 5,977 points. Turnover was thin; this ...

Markets - Equity - Middle East & Africa

Gulf slides with oil but closes off lows DUBAI: Most major Gulf stock markets fell on Tuesday after Brent crude oil dropped back below $49 a barrel, but most closed well off their lows as investors bought blue chips in late trade.The Saudi index closed 0.2 percent lower at 6,096 points, extending Monday's 1.7 percent slide. But gainers slightly outnumbered losers 77 to 74 and the index bounced from an intra-day low of 6,063 points, holding minor technical support on the April low ...

Markets - Equity - Middle East & Africa

Region hit by lower oil, Fed worries; Dubai's DSI sinks DUBAI: Gulf stock markets sank on Monday as oil prices and global equities dropped because of the possibility of a U.S. interest rate hike, while Dubai builder Drake & Scull dropped amid concern over its financial situation.Brent crude dropped below $50 a barrel on talk the U.S. Federal Reserve might signal at a conference this week in Jackson Hole, Wyoming, that it is gearing up to raise interest rates.The Saudi stock index dropped 1.7 percent ...

Markets - Equity - Middle East & Africa

Gulf sinks, Drake & Scull hit in Dubai DUBAI: Gulf stock markets fell early on Monday after oil and Asian equities dropped because of the threat of a U.S. interest rate hike, while Dubai builder Drake & Scull declined sharply because of concern about its financial situation.Brent crude dropped back to just above $50 a barrel in Asian trade amid talk that a U.S. Federal Reserve gathering this week in Jackson Hole, Wyoming might signal the U.S. central bank is gearing up to ...

Markets - Equity - Middle East & Africa

Gulf edges down despite petchems; Telecom Egypt climbs DUBAI: Most Gulf stock markets edged down on Sunday despite strength in some Saudi Arabian petrochemical shares, while Telecom Egypt boosted Egypt's bourse slightly. Brent crude oil closed above $50 a barrel on Thursday and Friday for the first time since July 4. This encouraged buying of petrochemical stocks on Sunday, with Saudi Basic Industries adding 0.9 percent to 84.25 riyals, nearing technical resistance at 86-87 riyals, the top of the range in which it ...