12082016Thu
Last update: Thu, 08 Dec 2016 05am

Middle East & Africa

Markets - Equity - Middle East & Africa

Gulf markets climb in line with global shares DUBAI: Stocks in the Gulf climbed in early trade on Thursday, taking their cue from Asian shares and Wall Street, after the Federal Reserve left U.S. interest rates unchanged and indicated a slower pace of future hikes.Dubai's main index was the top gainer among its regional peers, jumping 1.1 percent as nine-tenths of the traded shares rose.Emaar Properties, the largest listed developer, climbed 2.2 percent, and Dubai Investments gained 2.0 percent.In neighbouring Abu Dhabi, the index edged up 0.3 percent. Abu Dhabi National Energy was the top gainer, climbing 2.0 percent.Brent futures bounced to $47.47 a barrel, up 0.9 percent, as the dollar - the currency in which the commodity trades- was knocked down.But Dana Gas fell 1.7 percent after it said on Thursday its board had discussed a proposal to buy back shares in the company.Qatar's main index rose 0.9 percent with a little under three-fifths of the traded ...

Markets - Equity - Middle East & Africa

Gulf mixed with Saudi outperforming peers, Egypt loses steam DUBAI: Bourses in the Gulf were mixed on Wednesday with Saudi Arabia's bourse supported by the petrochemical sector while Egypt lost steam as local and regional funds exited positions. Saudi Arabia's index rose 0.4 percent in moderate trade as Brent prices firmed over $46 a barrel. Saudi Basic Industries, the petrochemical heavyweight, climbed 0.9 percent. The insurance sub-index, usually actively traded by day traders, added 1.7 percent as almost all the constituents advanced, recouping some ...

Markets - Equity - Middle East & Africa

Gulf edges up but Qatar slips in early trade DUBAI: Stock markets in the Gulf made small gains in early trade on Wednesday with investors buying small and mid-sized shares, while Qatar's index slipped as the FTSE passive funds inflow faded.Riyadh's index rose 0.3 percent to 5,943 points after 45 minutes of trade, pulling slightly away from its technical support at the August low of 5,911 points.Petrochemical shares firmed as Brent futures bounced back over $46 a barrel. The largest listed producer Saudi Basic ...

Markets - Equity - Middle East & Africa

Qatar gains after FTSE inclusion, Saudi near technical support level DUBAI: Qatar's equity index climbed on Tuesday as passive funds flowed into shares now included in FTSE's secondary emerging market index while other Gulf markets sagged. Doha's index rose 1.0 percent, recouping some of the percent losses from the previous session. Passive funds will flow into 22 shares from Tuesday, and the stocks will continue to be bid up for several days to come as managers meet their fund mandates. Islamic lender Masraf Al Rayan, ...

Markets - Equity - Middle East & Africa

Qatar slumps ahead of FTSE inclusion, Saudi drops on austerity concerns DUBAI: Qatar's main equity index slumped 4.0 percent on Monday ahead of the additions of some companies in FTSE's secondary emerging market index, while Saudi Arabia dropped as investors grew weary of further austerity expected to come into effect next month. Doha suffered from its largest single day drop since January in the heaviest turnover so far this year. Shares in companies set to be included in index compiler FTSE's secondary emerging market index on ...

Markets - Equity - Middle East & Africa

Qatar pulls back ahead of FTSE inclusion, UAE outperforms peers DUBAI: Stock markets in the Gulf diverged in early trade on Monday, with Qatar's index pulling back ahead of the inclusion of some companies in FTSE's secondary emerging market index, while Dubai advanced as global risk sentiment improved.Qatar's index retreated 1.8 percent, wiping out Sunday's 0.4 percent gain. Nine-tenth of the shared that were trading declined.Shares in companies set to be included in index compiler FTSE's secondary emerging market index on Sept. 20 were the ...

Markets - Equity - Middle East & Africa

Saudi shares drop as activity falls to 12-month low, Qatar rises DUBAI: Equity investors dumped Saudi Arabian stocks on Sunday, deterred by a recent downturn in global equity and oil markets while Qatar's index held on to small gains as traders bought shares on price dips. Riyadh's index pulled back 1.9 percent on the first day back following a 10-day Eid al-Adha break. But trading volume was the lowest since last September. Oil-related companies were hit with Saudi Kayan Petrochemical declining 2.3 percent in heavy trade, ...