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REUTERS/Mohammed Salem Acquire Licensing RightsOct 8 (Reuters) - Major stock markets in the Gulf tumbled on Sunday amid worries that rising conflict between Palestinian group Hamas and Israel threatens to spiral. The index was dragged down by losses in all sectors, with Lumi Rental (4262.SE) down 5% and Etihad Atheeb Telecommunication (7040.SE) dropping 5.3%. Saudi Aramco Base Oil (2223.SE) (Luberef)dropped 6.8% and the world's largest Islamic bank by assets, Al Rajhi Bank(1120.SE) slipped 2.1%. The Qatari index (.QSI) fell for a third straight session, ending 0.6% lower, with most sectors in the red. Outside the Gulf, Egypt's blue-chip index (.EGX30) plunged 2.6%, the steepest drop in nearly three months.
Persons: Mohammed Salem, Md Manzer Hussain, Bernadette Baum Organizations: REUTERS, Lumi, Etihad Atheeb Telecommunication, Saudi Aramco Base Oil, Al Rajhi Bank, . Industries Qatar, Commercial Bank, Commercial International Bank, Finance, Digital, Financial, Telecom Egypt, Fawry Banking, Thomson Locations: Gaza City, Palestinian, Israel, Gaza, East, Saudi
Major Gulf bourses end lower on falling oil prices
  + stars: | 2023-06-11 | by ( Md Manzer Hussain | ) www.reuters.com   time to read: +1 min
June 11 (Reuters) - Major stock markets in the Gulf ended lower on Sunday in response to falling oil prices and weaker-than-expected Chinese economic data. The Qatari Stock index (.QSI) dropped 0.5%, extending its losses to a second session. The index recorded a drop in all sectors with Gulf's biggest lender Qatar National Bank (QNBK.QA) falling 0.6% and Qatar International Islamic Bank (QIIB.QA) shedding 0.7%. However, the oil giant Saudi Aramco (2222.SE) and the kingdom's biggest bank Saudi National Bank (1180.SE) lost 0.3% and 0.9% respectively. Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 1.3%, extending its previous session gains.
Persons: Md Manzer Hussain, Ros Russell Organizations: Saudi, Gulf's, Qatar National Bank, Qatar International Islamic Bank, Bank Aljazira, Saudi Industrial Investment Group, Saudi Aramco, Saudi National Bank, Fawry Banking, Thomson Locations: Saudi
March 26 (Reuters) - Qatar's stock market closed higher on Sunday, outperforming other bourses in the Gulf region, as expectations of a pause in rate hikes by the U.S. Federal Reserve lifted investor sentiment. The Fed raised its main interest rate by a quarter point on Wednesday, but signaled it would consider a pause in light of banking system stresses. The Qatari Stock index (.QSI) climbed 1.2%, extending its rally to a third straight session. The index recorded an advance in all sectors, with the Gulf's biggest lender Qatar National Bank (QNBK.QA) rising 3.1% and Qatar Islamic Bank (QISB.QA) adding 2.7%. The index was lifted up by a 15.1% jump in Sidi Kerir (SKPC.CA) and a 7% rise in Fawry Banking (FWRY.CA).
Saudi leads most Gulf bourses higher; Egypt down
  + stars: | 2023-03-19 | by ( Md Manzer Hussain | ) www.reuters.com   time to read: +2 min
March 19(Reuters) - Saudi Arabia's stock market closed higher on Sunday to outperform the Gulf region, amid expectations of a lower interest rate hike by the U.S. Federal Reserve in the aftermath of the collapse of two big regional banks. Most Gulf currencies are pegged to the U.S. dollar, while Saudi Arabia, the United Arab Emirates and Qatar usually mirror U.S. monetary policy changes. Saudi Arabia's benchmark index (.TASI) ended its five sessions losing streak, jumping 1.8%, the highest intraday rise since Dec 13. The index heavyweight Islamic banks Qatar Islamic Bank (QISB.QA) and Masraf Al Rayan (MARK.QA) rose 1.9% and 3.2% respectively. Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.2%, extending its looses into a sixth sessions.
Dec 4 (Reuters) - Egypt's blue-chip index outperformed regional peers to close higher on Sunday, while Saudi and Qatari stocks slipped on weakness in the financial and petrochemical sectors. They could fall further this week after OPEC+ agreed to stick to its oil output targets on Sunday but volatility is likely to continue after G7 countries and Australia also agreed a price cap on Russian oil. Saudi Arabia's benchmark index (.TASI) fell 0.9%, with Sabic Agri-Nutrients (2020.SE) down 4.2% and Sulaiman al-Habib Medical Services (4013.SE) 1.2% lower. Separately, Saudi oil behemoth Aramco's (2222.SE) base oil subsidiary Luberef announced its IPO price range between 91 and 99 riyals each. In Qatar, the index (.QSI) finished flat, as gains in energy stocks were partially offset by losses in financial stocks.
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