Major Gulf indexes track global peers, oil prices higher

Updated 29 May, 2022

Most major Gulf indexes rebounded on Sunday, tracing their global peers and following a rise in oil prices.

Saudi Arabia's benchmark index rose 1.3%, with Al Rajhi Bank advancing 2.3%, while oil behemoth Saudi Aramco increased 1.6%.

Among other stocks, Mobile Telecommunications Company Saudi Arabia (Zain KSA) rose 0.9% after saying its unit Zain Business Limited had received the telecom regulator's (CITC) nod to acquire at least 8,069 of its telecom tower sites.

Gulf markets close mixed on growth worries

In Qatar the benchmark advanced 0.3% after three consecutive sessions of losses, as Industries Qatar gained 1.3% and the Gulf's largest lender, Qatar National Bank , advanced 1%.

Outside the Gulf, Egypt's blue-chip index declined 1.1%, with Commercial International Bank Egypt falling 1.9%.

SAUDI ARABIA gained 1.3% to 12,689 points

QATAR gained 0.3% to 12,861 points

EGYPT fell 1.1% to 10,087 points

BAHRAIN rose 0.6% to 1,906 points

OMAN edged up 0.3% 4,121 points

KUWAIT climbed 1.9% to 8,598 points

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