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☆ Most Gulf markets in the red on falling oil prices
▼ + stars: | 2023-11-26 | by ( Ateeq Shariff | ) www.reuters.com time to read: +1 min

A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. REUTERS/Hamad I Mohammed/File Photo Acquire Licensing RightsNov 26 (Reuters) - Stock markets in the Gulf ended lower on Sunday in response to Friday's fall in oil prices, although the Saudi index bucked the trend to trade higher. Oil - a catalyst for the Gulf's financial markets - fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium. Outside the Gulf, Egypt's blue-chip index (.EGX30) declined 0.8%, with top lender Commercial International Bank (COMI.CA) losing 2%. Saudi Arabia's benchmark index (.TASI) edged 0.1% higher, ending two sessions of losses, helped by a 1.2% rise in Elm Company (7203.SE).

Persons: Joe Biden, Hamad I Mohammed, Ateeq, Louise Heavens Organizations: Bahrain Bourse, U.S, REUTERS, Stock, Qatar Islamic Bank, Industries Qatar, Commercial International Bank, Elm Company, Thomson Locations: Bahrain, Manama, Saudi, Gaza, Qatar, OPEC, Saudi Arabia, Ateeq Shariff, Bengaluru

☆ Gulf bourses mixed as China pessimism offsets higher oil prices
▼ + stars: | 2023-11-12 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

REUTERS/Hamad I Mohammed/ File Photo Acquire Licensing RightsNov 12 (Reuters) - Gulf stock markets put in a mixed performance on Sunday as higher oil prices were offset by worries of faltering demand from China, the world's top crude importer. Oil prices - a major driver of Gulf financial markets - rose about 2% on Friday as Iraq voiced support for OPEC+ oil cuts ahead of a meeting of the group on Nov. 26. The retailer reported a third-quarter net loss of 202.9 million riyals ($54.1 million) compared to a net profit of 21.1 million riyals a year earlier. Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 1.7%, with Commercial International Bank (COMI.CA) down 2.5% and Misr Fertilizer (MFPC.CA) losing 4.6%. However, Credit Agricole Egypt (CIEB.CA) gained 3.7% as the lender reported a 121% jump in third quarter consolidated net profit.

Persons: Joe Biden, Hamad I Mohammed, Brent, Masraf Al Rayan, Fawaz Abdulaziz Alhokair Co, Md Manzer Hussain, Kirsten Donovan Organizations: Bahrain Bourse, U.S, REUTERS, OPEC, Qatar, Saudi Telecom, Human Resources, Commercial International Bank, Misr, Agricole Egypt, Thomson Locations: Bahrain, Manama, China, Iraq, Saudi

☆ Most Gulf markets end higher after US job market softens
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. Most Gulf Cooperation Council countries, including the UAE, peg their currencies to the U.S. dollar and follow the Fed's policy moves closely. Saudi Arabia's benchmark index (.TASI) gained 0.8%, with oil giant Saudi Aramco (2222.SE) rising 0.5% and Lumi Rental Co (4262.SE) finishing 1.7% higher. Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 2% higher, led by a 2.1% rise in Commercial International Bank (COMI.CA). On Friday, the lender reported third-quarter net income of 8.35 billion Egyptian pounds ($270.66 million), up 89% year-on-year.

Persons: Joe Biden, Hamad I Mohammed, Detroit's, Jerome Powell, Ateeq, David Goodman, Sharon Singleton Organizations: Bahrain Bourse, U.S, REUTERS, Federal, United Auto Workers, UAW, Gulf Cooperation, U.S ., Saudi Aramco, Lumi, Reuters, Industries Qatar, Commercial International Bank, Thomson Locations: Bahrain, Manama, U.S, Gulf, UAE, Saudi, Ateeq Shariff, Bengaluru

☆ Gulf bourses drop amid hawkish Fed tone, Mideast conflict
▼ + stars: | 2023-10-22 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

REUTERS/Hamad I Mohammed/File photo Acquire Licensing RightsOct 22 (Reuters) - Stock markets in the Gulf fell on Sunday amid warnings of possible further interest rate hikes from the U.S Federal Reserve, and worries of escalation in the Middle East conflict. Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by Fed policy decisions because most regional currencies are pegged to the U.S. dollar. Saudi Arabia's benchmark index (.TASI) was down for a third consecutive session, ending 1.5% lower, with all sectors in the red. Elm Company (7203.SE) dropped 2.3%, while Al Rajhi Bank (1120.SE), the world's largest Islamic bank by assets, slipped 2.1%. The Qatari index (.QSI) fell for a fifth straight session, ending 0.9% lower, with Industries Qatar (IQCD.QA) dropping 2.2% and Qatar Navigation (QNNC.QA) sliding 3%.

Persons: Joe Biden, Hamad I Mohammed, Jerome Powell, Talaat Mostafa, Md Manzer Hussain, David Holmes Organizations: Bahrain Bourse, U.S, REUTERS, Stock, U.S Federal Reserve, Gulf Cooperation Council, U.S ., Elm Company, Al Rajhi Bank, Industries Qatar, Qatar Navigation, Qatar National Bank, Eastern Co, Gaza, Thomson Locations: Bahrain, Manama, Saudi, Israel, Lebanon, Syria

☆ Most Gulf markets extend losses on profit-taking; Egypt gains
▼ + stars: | 2023-09-17 | by ( Ateeq Shariff | ) www.reuters.com time to read: +1 min

REUTERS/Hamad I Mohammed/File Photo Acquire Licensing RightsSept 17 (Reuters) - Most stock markets in the Gulf ended lower on Sunday as profit-taking continued, but the Egyptian index bucked the trend to trade at a record high. Saudi Arabia's benchmark index (.TASI) dropped 0.5%, weighed down by a 1.1% fall in Al Rajhi Bank (1120.SE) and a 1.7% decrease in Alinma Bank (1150.SE). In Qatar, the index (.QSI) extended losses for a third session. Outside the Gulf, Egypt's blue-chip index (.EGX30) gained 0.6%, hitting its record high, led by a 5.5% rise in Beltone Financial Holding (BTFH.CA). Reporting by Ateeq Shariff in Bengaluru Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Hamad I Mohammed, ADES, Ateeq, Christina Fincher Organizations: Bahrain Bourse, U.S, REUTERS, Saudi, Al Rajhi Bank, Alinma Bank, Beltone Financial, UAE's Global Investment Holding, Eastern Co, Thomson Locations: Bahrain, Manama, Al Rajhi, Qatar, Eastern, Ateeq Shariff, Bengaluru

☆ Major Gulf bourses fall amid China gloom
▼ + stars: | 2023-09-03 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

FILE PHOTO-Traders wait at the Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. The Qatari index (.QSI) fell for a third consecutive session, ending 0.1% lower, with most sectors in the red. Saudi Arabia's benchmark index (.TASI) was down 0.3%, with a 1.3% slump in oil giant Saudi Aramco (2222.SE). The world's biggest oil company is considering selling a stake worth as much as $50 billion, the Wall Street Journal reported on Friday. Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.8%, snapping its winning streak from the six previous sessions, with most sectors in the red.

Persons: Joe Biden, Hamad I Mohammed, Md Manzer Hussain, Hugh Lawson Organizations: Bahrain Bourse, U.S, REUTERS, Qatar National Bank, Commercial Bank, Saudi Aramco, Wall Street, Saudi Basic Industries, Saudi Iron and Steel Company, Public Investment Fund, International Bank, Thomson Locations: Bahrain, Manama, China, Saudi, El

☆ Dubai rises on higher oil prices; FAB drags on Abu Dhabi
▼ + stars: | 2023-08-11 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

REUTERS/Hamad I Mohammed/File PhotoAug 11 (Reuters) - Stock markets in Dubai rose on Friday as upbeat demand growth forecasts from OPEC and the International Energy Agency (IEA) lifted oil prices, while lender FAB weighed on Abu Dhabi's index. In Dubai, the main share index (.DFMGI) added 0.4% after falling for four consecutive sessions. Emirates NBD Bank (ENBD.DU), Dubai's largest lender, rose more than 3% while toll operator Salik Company (SALIK.DU) was up 2% after reporting second quarter earnings. Emaar Properties (EMAR.DU), Dubai's largest listed real estate firm, was also up more than 0.7% the day after reporting second-quarter earnings. In Abu Dhabi, the benchmark index (.FTFADGI) dropped 0.3%, for a third negative session in a row, pressured by a 1.1% fall for the country's largest lender First Abu Dhabi Bank (FAB.AD) and a 1.6% drop in Alpha Dhabi Holding (ALPHADHABI.AD).

Persons: Hamad I Mohammed, Brent, Shamsuddin, Kirsten Donovan Organizations: Bahrain Bourse, REUTERS, Stock, International Energy Agency, FAB, IEA, Organization of Petroleum, Emirates NBD Bank, Salik, Abu Dhabi Bank, Alpha, Thomson Locations: Bahrain, Manama, Dubai, Abu Dhabi, Alpha Dhabi, Bengaluru

☆ Saudi leads Gulf bourses lower on recession worries
▼ + stars: | 2022-09-25 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterBahraini traders are seen at Bahrain Bourse in Manama, Bahrain, November 4, 2020. Register now for FREE unlimited access to Reuters.com RegisterRetal Urban Development Co (4322.SE) dropped 4%, while oil behemoth Saudi Aramco (2222.SE) finished 2.6% lower. read moreThe Saudi index remains exposed to additional price corrections with oil demand expected to continue slowing down, said Daniel Takieddine, CEO MENA BDSwiss. Outside the Gulf, Egypt's blue-chip index (.EGX30) eased 0.3%, hit by a 2.1% fall in Commercial International Bank (COMI.CA). Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Most Gulf bourses retreat as Russia threats add to Fed jitters
▼ + stars: | 2022-09-21 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterBahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. REUTERS/Hamad I MohammedSept 21 (Reuters) - Most stock markets in the Gulf fell on Wednesday as investors braced for a hefty interest rate hike from the U.S. Federal Reserve, while escalating tension between Russia and Ukraine added to concerns. Saudi Arabia's benchmark index (.TASI) dropped 0.4%, hit by 0.6% falls in both Al Rajhi Bank (1120.SE) and oil giant Saudi Aramco (2222.SE). Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 0.6%, snapping two sessions of gains. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Gulf bourses slide on elevated interest rate worries
▼ + stars: | 2022-09-19 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterBahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020. Dubai's main share index (.DFMGI) lost 0.4%, while the Abu Dhabi index (.FTFADGI) retreated 1%. In Qatar, the benchmark index (.QSI) slid 1.7% as most of the stocks on the index were in the negative territory including Qatar Islamic Bank (QISB.QA), which declined 4%. Outside the Gulf, Egypt's blue-chip index (.EGX30) rebounded 0.9% as investors traded into weakness after four consecutive days of decline tuned its stocks more attractive to buy in. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ateeq Shariff in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

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