A woman walks through the Dubai Financial Market after Joe Biden won the US presidency November 8, 2020 in Dubai, United Arab Emirates. REUTERS/Christopher Pike
Sign up now for FREE unlimited access to Reuters.com
June 9 (Reuters) – Most Middle East equity markets ended mixed on Thursday, with the UAE leading losses while Qatar had its best day since January 2021 after closing flat in the previous session.
Gulf Cooperation Council stock markets mostly fell under the weight of global selling pressure as recession fears in the United States and Europe continued to be a negative factor, said Fadi Reyad, market analyst at CAPEX.com MENA.
In Abu Dhabi, the index (.FTFADGI) fell 0.7%, extending losses for a seventh straight session as largest lender First Abu Dhabi Bank (FAB.AD) tumbled 0.7% and e& (formerly Etisalat Group) (ETISALAT.AD ) declined 2.2%.
Sign up now for FREE unlimited access to Reuters.com
Dubai’s main stock index (.DFMGI) slipped 0.7%, offset by a 1.2% decline in Sharia-compliant lender Dubai Islamic Bank (DISB.DU) and a fall in top lender Emirates NBD (ENBD. DU) was charged by 1.1%.
Separately, Dubai plans to sell a 12.5 percent stake in business park operator TECOM Group in an initial public offering (IPO), the company said in a statement. (nL1N2XW05S)
The Saudi Arabian benchmark index (.TASI) rose 0.1% as financials rebounded from earlier losses, with Banque Saudi Fransi (1050.SE) and Al Rajhi Bank (1120.SE) leading gains.
Alkhorayef Water And Power Technologies (2081.SE) ended up 1.4% after signing 1.86 billion riyals ($496 million) in contracts with the Ministry of Environment, Water and Agriculture .
The stock rose as much as 2.9% in trading on Thursday.
However, the Qatari Index (.QSI) was up 1%, but in what was its biggest intraday gain since Jan 11, 2021, boosted by financial stocks as Qatar Islamic Bank (QISB.QA) tumbled 3.2 % rise.
Outside the Gulf, the Egypt Index (.EGX30) ended flat after rising 1.9% in the previous session.
Egypt’s annual urban consumer inflation accelerated to 13.5% yoy in May from 13.1% in April, data from state statistics agency CAPMAS showed on Thursday. Continue reading
Sign up now for FREE unlimited access to Reuters.com
Reporting by Mohd Edrees in Bengaluru; Editing by David Clarke
Our standards: The Thomson Reuters Trust Principles.
Comments are closed.