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Qatar’s stock index climbed 1.4 percent, its largest single-day rise since July 13 as local and regional funds were again net buyers, bourse data showed.
Commodity-linked shares were some of the top performers on Tuesday, with oil and drilling service provider Gulf International Services surging 9.1 percent, Reuters reported. The traded volume surged to 12 millions yesterday from the previous session’s 7 million and the value of shares increased to QR289m from QR178m.
Rising oil prices helped Middle East indexes eke out modest gains yesterday, though shares more exposed to foreign funds followed global markets lower, weighed down by a list of worries including North Korea.
Brent oil surged 3.8 percent overnight to settle at $59.02 a barrel after major producers said the global market was on its way to rebalancing, and crude held near that level yesterday. The Dubai index added 0.2 percent as stocks favoured by local day traders were the most active; builder Drake & Scull climbed 2.4 percent.
Rising tensions between North Korea and the United States hurt Egyptian shares which are most vulnerable to foreign fund flows; private equity company Qalaa Holdings dropped 5.7 percent.
The stock markets in the UAE and GCC were in a tug-of-war state as investors weighed positive news on the economic front and a ‘catastrophic’ overnight explosion in Lebanon that killed at least 100.<
GCC equity markets staged a strong recovery in the latter part of 2Q20, reversing a large part of the prior losses induced by the coronavirus and its associated lockdowns and restrictions. The recove
The MSM 30 Index closed the week up by 0.12 per cent despite lower volume and turnover as compared to the previous week. Shariah index was down by 0.07 per cent. The turnover and volumes were lower t
Oman Daily Observer
Abu Dhabi Securities Exchange (ADX) announced on Tuesday that it has listed $4 billion Fixed Rate Notes issued by MDGH GMTN B.V. and guaranteed by Mamoura Diversified Global Holding (MDGH).
The Gulf Today
Leading UAE banks have come to the bond market, and they are getting a warm response. Sharjah Islamic Bank priced its $500 million 5-year sukuk at LIBOR plus 285 bps, and received more than $3.4 bil