Friday, July 12, 2024

Gulf stock markets are recovering from rising oil prices and rising global markets


Gulf stock markets rebounded yesterday, with oil prices and global stock markets rising, and investors are waiting for more details to assess the extent of the risk posed by the new corona mutant “Omigron” to the global economy.
Shares of Dubai Emaar Properties were up 1.8 percent, Emaar Properties was up 4.6 percent and Dubai Islamic Bank was up 2.1 percent, according to Reuters. “Union assets” rose 0.95 percent, “Shua Capital” 1.54 percent and “GFH” 3.1 percent.
Shares of Dubai, the center of tourism and tourism in the Middle East, fell 5.2 percent yesterday, the biggest drop since March 2020.
In Abu Dhabi, shares of Etisalat Group rose 5.8 percent to a record high of 2.2 percent. Abu Dhabi Islamic Bank holds 3.56 per cent, Abu Dhabi Commercial 1.68 per cent, Aktia Group 0.37 per cent, Altar Properties 2.25 per cent, Alpha Abu Dhabi Holdings 2.56 per cent, Dana Gas 3.92 per cent and First Abu Dhabi Bank 0.
On the Doha Stock Exchange, Qatari stocks rose 0.1 percent, while “Industry Qatar” shares rose 1.3 percent.
The Bahrain index was up 0.5 percent at 1754 points. The Muscat index is up 0.3 percent at 4,118 points. The Kuwaiti index is up 0.5 percent at 7,550 points.
In Cairo, the leading stock index of the Egyptian stock market fell 0.6 percent, while the Eastern Tobacco Company’s share fell 10.1 percent, after trading shares lost ownership of the dividend.
The market capitalization rose by 884 million pounds to 715.160 billion pounds during yesterday’s session.
Egyptian trades tended to buy net 85 85.05 million, while Arabs and foreign trades tended to sell for 17 17.3 million and .7 67.74 million respectively.
During yesterday’s trading, the trading value of the shares listed at 408.03 million shares with 44.11 thousand deals was 954.68 million pounds.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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