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Most Gulf markets fall on weak oil; Saudi gains
  + stars: | 2023-12-03 | by ( ) www.reuters.com   time to read: +2 min
A general view shows the Dubai Financial Market after Joe Biden wins U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. REUTERS/Christopher Pike/File Photo Acquire Licensing RightsDec 3 (Reuters) - Most 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 close higher. Oil prices - a catalyst for the Gulf's financial markets - slumped more than 2% on Friday on investor scepticism over the depth of OPEC+ supply cuts and concern about sluggish global manufacturing activity. Saudi Arabia's benchmark index (.TASI) gained 0.4%, with oil giant Saudi Aramco (2222.SE) rising 0.5% and Arabian Pipes Co (2200.SE) advancing 5.4%. Outside the Gulf, Egypt's blue-chip index (.EGX30) lost 0.7%, with Commercial International Bank (COMI.CA) declining 2%.
Persons: Joe Biden, Christopher Pike, Jerome Powell, Ateeq, Bernadette Baum, Sharon Singleton Organizations: Dubai Financial, United Arab Emirates, REUTERS, Qatar Islamic Bank, Saudi Aramco, Arabian Pipes, Federal, Gulf Cooperation Council, U.S ., Commercial International Bank, Thomson Locations: Dubai, United Arab, Saudi, OPEC, Saudi Arabia, Ateeq Shariff, Bengaluru
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
Most Gulf markets gain on rising oil prices
  + stars: | 2023-11-19 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +2 min
REUTERS/Christopher Pike Acquire Licensing RightsNov 19 (Reuters) - Most stock markets in the Gulf ended higher on Sunday in response to Friday's rise in oil prices, with the Saudi index rising for a fourth consecutive session. Oil prices - often a catalyst for the Gulf's financial market - jumped more than 4% on Friday, rebounding from a 4-month low, with U.S. sanctions on some Russian oil shippers lending support. Saudi Arabia's benchmark index (.TASI) gained 0.5%, with oil giant Saudi Aramco (2222.SE) gaining 0.3% and the country's biggest lender Saudi National Bank (1180.SE) advancing 1.5%. In Qatar, the index (.QSI) closed 0.2% higher, helped by a 1% rise in the Gulf's biggest lender Qatar National Bank (QNBK.QA). Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 2.1%, buoyed by a 3.8% jump in Commercial International Bank (CIB) (COMI.CA).
Persons: Joe Biden, Christopher Pike, Kristalina Georgieva, Ateeq, Alex Richardson Organizations: Dubai Financial, United Arab Emirates, REUTERS, Saudi, Saudi Aramco, Saudi National Bank, Qatar National Bank, Gulf Cooperation Council, U.S . Federal Reserve, International Bank, CIB, Egypt's, European Bank for Reconstruction, Monetary Fund, Reuters, Thomson Locations: Dubai, United Arab, Saudi, Qatar, Israel, Ateeq Shariff, Bengaluru
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
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
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
CNN —Paris Saint-Germain and Kylian Mbappé suffered a chastening defeat in the Champions League group stages, losing 4-1 at the hands of Newcastle United on Wednesday. The win put Newcastle top of Group F with four points, a point ahead of PSG. If you make mistakes you pay for that.”Mbappé is challenged for the ball by Jamaal Lascelles and Bruno Guimarães of Newcastle United. Qatar Sports Investment (QSI) acquired PSG in 2011 and lavished money on bringing some of the world’s most talented players to Paris, and a Champions League title seemed inevitable. Mbappé had little effect on the game at St. James’ Park in Newcastle, with the Premier League side completely physically overpowering their French opposition.
Persons: Germain, Kylian Mbappé, Miguel Almirón, Dan Burn, Gianluigi Donnarumma, Sean, Lucas Hernández, Fabian Schär, , Luis Enrique, Mbappé, Jamaal Lascelles, Bruno Guimarães, Richard Sellers, Enrique, Lionel Messi, Neymar Jr, , Wednesday’s, James ’ Organizations: CNN, Paris Saint, Champions League, Newcastle United, Newcastle, PSG, Borussia Dortmund, AC Milan, , ” PSG, TNT Sports, Real Madrid, Mbappé, La Liga, Monaco, Qatar Sports Investment, Paris, League, St, Premier League Locations: Newcastle, Paris
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal Al Nasser/File Photo Acquire Licensing RightsOct 1 (Reuters) - Saudi Arabia's stock market ended lower on Sunday in response to Friday's fall in oil prices, while the Egyptian index extended loses on profit-taking. Saudi Arabia's benchmark index (.TASI) fell 0.1%, extending losses from the previous session, weighed down by a 0.9% fall in oil giant Saudi Aramco (2222.SE). Oil prices - a key catalyst for the Gulf's financial markets - settled 1% lower on Friday due to macroeconomic concerns and profit-taking. Saudi Arabia is expected to tap the international debt markets to finance a projected budget deficit in 2023-2024, the finance ministry said, against a backdrop of lower oil prices and the country's extended oil production cuts.
Persons: Faisal Al Nasser, Ateeq, David Holmes Organizations: REUTERS, Saudi, Saudi Aramco, Qatar National Bank, Qatar bourse, Banking, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Qatar, Ateeq Shariff, Bengaluru
The Qatari benchmark stock index (.QSI) fell 0.3%, dragged down by almost all the sectors with financials leading the declines. Qatar National Bank (QNBK.QA), the Gulf's biggest lender, was down 0.7% while heavyweight Commercial Bank (COMB.QA) dropped 1.3%. Kuwait's premier market index (.BKP) fell 1.6%, its 7th consecutive session of losses, as most of its constituents were in negative territory. Outside the Gulf, Egypt's blue-chip index (.EGX30), closed up 0.6%, hitting an all-time high. Reporting by Shamsuddin Mohd in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
Persons: Shamsuddin, Emelia Sithole Organizations: Federal, Gulf Cooperation, greenback, Qatar National Bank, Commercial Bank, Chemical Industries, Misr Fertilizer, Stock, UAE bourse, Thomson Locations: Abu, Saudi Arabia, UAE, Bengaluru
The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. The Labor Department and Tyson Foods did not immediately respond to a request for comment from Reuters. The Labor Department has also opened investigations into Fayette Industrial and QSI that run cleaning shifts for Perdue and Tyson respectively, the newspaper said. In April the Biden administration sent a letter to meat companies including Tyson and Perdue asking the companies to examine their supply chains for evidence of child labor. The letter was part of an effort by several agencies, led by the Labor Department, to curb the use of illegal child labor across sectors.
Persons: Arnd, Tyson, Perdue, QSI, Biden, Gokul, Daniel Wallis Organizations: Tyson Foods, REUTERS, U.S . Department of Labor, Perdue, New York Times, Labor Department, New York Times Magazine, Reuters, The Labor Department, Fayette Industrial, Tyson, Thomson Locations: Davos, Switzerland, Shore of Virginia, Fayette, Bengaluru
Major Gulf markets little changed ahead of Fed decision
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Christopher Pike Acquire Licensing RightsSept 20 (Reuters) - Major stock markets in the Gulf were little changed in early trade on Wednesday ahead of the U.S. Federal Reserve's interest rate decision. Investors are awaiting a raft of central bank interest rate decisions this week to assess the outlook for economic growth and fuel demand. The U.S. central bank is widely expected to keep interest rates on hold, but the focus will be on its projected policy path. The six-member Gulf Cooperation Council's monetary policy is usually guided by the Fed's decision as most regional currencies are pegged to the U.S. dollar. The Qatari benchmark (.QSI) rose 0.1%, helped by a 0.7% rise in the Gulf's biggest lender Qatar National Bank (QNBK.QA).
Persons: Joe Biden, Christopher Pike, Ateeq, Sohini Goswami Organizations: Dubai Financial, U.S, United Arab Emirates, REUTERS, Gulf Cooperation, U.S ., Development, Saudi Aramco, Qatar National Bank, Thomson Locations: Dubai, United Arab, U.S . Federal, U.S, Saudi, Dar Al Arkan, Yemen, Riyadh, Abu Dhabi, Ateeq Shariff, Bengaluru
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
Most stock markets in Gulf track oil prices higher
  + stars: | 2023-08-13 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +1 min
An investor monitors a screen displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014./File PhotoAug 13 (Reuters) - Most stock markets in the Gulf ended higher on Sunday in the wake of Friday's rise in oil prices, with the Saudi index gaining for a third consecutive session. Oil prices - a key catalyst for the Gulf's financial markets - edged higher on Friday after the International Energy Agency forecast record global demand and tightening supplies, propelling prices to their seventh straight week of gains, the longest such streak since 2022. Prospects for the oil market look healthy for the second half of the year, OPEC said. Saudi Arabia's benchmark index (.TASI) advanced 1.1%, rising for a third consecutive session, led by a 1.6% leap in oil giant Saudi Aramco (2222.SE). In Qatar, the index (.QSI) added 0.4%, with petrochemical maker Industries Qatar (IQCD.QA) putting on 0.8%.
Persons: Ateeq, Hugh Lawson Organizations: Abu, Abu Dhabi Securities Exchange, International Energy Agency, Organization of, Petroleum, Saudi, Saudi Aramco, Aramco, Industries Qatar, Thomson Locations: Abu Dhabi, Saudi, North Asia, Qatar, Egypt, Ateeq Shariff, Bengaluru
An electronic board displaying data is seen at the Doha Stock Exchange in Doha, Qatar January 6, 2021. REUTERS/Ibraheem Al Omari/File PhotoAug 6 (Reuters) - Qatar stock market closed higher on Sunday in response to rising oil prices amid supply cuts by top producers, while the Saudi index ended lower on weaker corporate earnings. The Qatari Stock index (.QSI) advanced 0.2%, ending two sessions of losses, with Baladna (BLDN.QA) climbing 3% and Qatar Fuel (QFLS.QA) gaining 1%. The index heavyweight Islamic banks Qatar Islamic Bank (QISB.QA) and Qatar International Islamic Bank (QIIB.QA) added 2.2% and 1.1% respectively. The food products distributor Halwani reported higher losses in second quarter compared to a year earlier.
Persons: Al Omari, Halwani, Md Manzer Organizations: Doha Stock Exchange, REUTERS, Qatar, Qatar Islamic Bank, Qatar International Islamic Bank, Savola, Thomson Locations: Doha, Qatar, Saudi, Saudi Arabia, Russia, El Gadida, El
July 30 (Reuters) - Saudi Arabia's stock market ended lower on Sunday, extending losses from the previous session on profit-taking, while the Egyptian index ended five sessions of losses. Saudi Arabia's benchmark index (.TASI) dropped 0.5%, weighed down by a 2.5% fall in Riyad Bank (1010.SE), while Saudi Awwal Bank (1060.SE) retreated 3.8%. On the positive side, National Shipping Company of Saudi Arabia (4030.SE) advanced more than 4% after posting a sharp rise in second-quarter net profit. In Qatar, the index (.QSI) gained 0.5%, led by a 2.7% rise in petrochemical maker Industries Qatar (IQCD.QA). ($1 = 3.7505 riyals)Reporting by Ateeq Shariff in Bengaluru Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.
Persons: Ateeq, Christina Fincher Organizations: Saudi, Riyad Bank, Saudi Awwal Bank, National Shipping Company, Industries Qatar, Eastern Company, Thomson Locations: Saudi, Saudi Arabia, Qatar, Ateeq Shariff, Bengaluru
Qatar bourse gains on rising oil prices; Egypt falls
  + stars: | 2023-07-23 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +1 min
July 23 (Reuters) - Qatar's stock market ended higher on Sunday in response to Friday's rise in oil prices, while the Saudi index finished flat. In Qatar, the key stock index (.QSI) gained 0.5%, rising for an eighth consecutive session, led by a 10% surge in Barwa Real Estate Co (BRES.QA). Last week, the real estate firm agreed to sell two land plots in Lusail area for 6.36 billion riyals ($1.75 billion). Outside the Gulf, Egypt's blue-chip index (.EGX30) eased 0.2% on Sunday, hit by a 1.1% fall in tobacco monopoly Easter Company. ($1 = 3.6425 Qatar riyals)Reporting by Ateeq Shariff in Bengaluru; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Ateeq, Hugh Lawson Organizations: Clean Energy, Company, Thomson Locations: Saudi, Russia, Ukraine, Qatar, Ateeq Shariff, Bengaluru
Most Gulf markets gain; Egypt extends losses
  + stars: | 2023-07-09 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +1 min
July 9 (Reuters) - Most stock markets in the Gulf ended higher on Sunday in response to Friday's rise in oil prices, while the Egyptian index extended losses for a fourth session. In Qatar, the index (.QSI) gained 0.3%, led by a 1.8% increase in telecoms firm Ooredoo (ORDS.QA). Outside the Gulf, Egypt's blue-chip index (.EGX30) slid 3.2%, extending losses for a fourth session, as foreign investors continue to sell amid difficult economic conditions locally and internationally. Almost all the stocks on the index were in negative territory including Misr Fertilizers (MFPC.CA), which retreated about 18%. Reporting by Ateeq Shariff in Bengaluru; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.
Persons: Dr Sulaiman Al, Ateeq, Alison Williams Organizations: Habib Medical Services, OPEC, Thomson Locations: Saudi, OPEC, Qatar, Ateeq Shariff, Bengaluru
Gulf bourses end mixed on China growth concerns
  + stars: | 2023-06-20 | by ( Md Manzer Hussain | ) www.reuters.com   time to read: +2 min
China on Tuesday cut two benchmark lending rates by 10 basis points each. Dubai's benchmark index (.DFMGI) extended losses to a second straight session, ending 0.3% lower. Saudi Arabia's benchmark index (.TASI) inched up 0.1%, with Dr Sulaiman Al-Habib Medical Services (4013.SE) rising 0.7% and Company for Cooperative Insurance (8010.SE) climbing 2.3%. "Oil prices remained volatile as Chinese economic recovery continues to fuel concerns among traders, affecting oil demand expectations," said Daniel Takieddine, CEO MENA at BDSwiss. Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 0.4%, extending previous session losses with financial and materials sectors trading in the red.
Persons: Dr Sulaiman Al, Daniel Takieddine, Brent, Md Manzer Hussain, Eileen Soreng Organizations: Emaar, Emirates Central Cooling Systems, Emirates, Qatar National Bank, Ezdan, Habib Medical Services, Company, Cooperative Insurance, Jamjoom Pharmaceuticals, Alpha, Commercial International Bank, Ezz, Thomson Locations: Dubai, Qatar, Saudi, Abu Dhabi, China, Beijing, Alpha Dhabi, Burjeel
Qatar stock market ends lower, Egypt rises
  + stars: | 2023-06-18 | by ( Md Manzer Hussain | ) www.reuters.com   time to read: +2 min
The Qatari Stock index (.QSI) dropped 0.1%, extending its losses to a second session with Gulf's biggest lender Qatar National Bank (QNBK.QA) falling 0.2% and Qatar Islamic Bank (QISB.QA) shedding 1.1%. Among the losers, Lesha Bank (QFBQ.QA) and Dukhan Bank (DUBK.QA) lost 1.1% and 1.3% respectively. Saudi Arabia's benchmark index (.TASI) added marginally as losses in energy and financial sectors countered gains in most of the sectors. Dr Sulaiman Al-Habib Medical Services (4013.SE) climbed 2.5% and Mouwasat Medical Services (4002.SE) surged 6.1%. However, Riyad Bank (1010.SE) and the world's largest Islamic bank by assets Al Rajhi Bank (1120.SE) lost 2.1% and 0.7% respectively.
Persons: Christopher Waller, Dr Sulaiman Al, Md Manzer Hussain, David Evans Organizations: . Federal, United Arab, Qatar National Bank, Qatar Islamic Bank, Lesha Bank, Dukhan Bank, Habib Medical Services, Mouwasat Medical Services, Riyad Bank, Al Rajhi Bank, Co, International Finance Corporation, IFC, Thomson Locations: United States, Saudi Arabia, United Arab Emirates, Qatar, Saudi, El
On Thursday when questioned about his PSG future, he told reporters that Macron has no influence on his career. I’ve already answered, I’ve said that my objective is to stay at PSG, that’s my only option at the moment. Kylian Mbappé, Lionel Messi and Neymar were unable to guide PSG to Champions League glory. Every team in the world would undoubtedly love to sign Mbappé, but his list of realistic suitors will be rather short. Regardless of the final outcome, love it or hate it this saga looks set to rumble on for the foreseeable future.
Persons: Kylian Mbappé, Germain, Mbappé, Neymar, ’ Mbappé, , Emmanuel Macron, Macron, I’ve, – Mbappé, meekly, Lionel Messi, Sergio Ramos, Carl Recine, Erling Haaland, Edinson Cavani, Jude Bellingham, Karim Benzema, It’s, Real, Harry Kane, Frenchman, Kane, scupper, Christophe Simon Organizations: CNN, spurn Real, Paris Saint, PSG, AS Monaco, Real, Twitter, Reuters, Real Madrid, lowball PSG, Champions League, Ligue, Parc des Princes, Qatar Sports Investment, League, Bayern Munich, Borussia Dortmund, Tottenham Hotspur, Manchester United Locations: spurn Real Madrid, Los, Le, , France, Paris, Real, Lens, Parc des, Al, Ittihad, Saudi Arabia, AFP
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
Most Gulf markets gain after US debt deal, job data
  + stars: | 2023-06-04 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +1 min
June 4 (Reuters) - Most stock markets in the Gulf ended higher on Sunday after the U.S. Congress passed a debt ceiling deal that averted a government default in the world's biggest economy, while jobs data fuelled hopes for a possible pause in Fed rate hikes. Oil prices - a key catalyst for the Gulf's financial markets - rose more than 2% on Friday after the U.S. debt deal and jobs data. In Qatar, the index (.QSI) finished 1.8% higher, with almost all the stocks closing in positive territory including Qatar Islamic Bank (QISB.QA), which gained 2.1%. Outside the Gulf, Egypt's blue-chip index (.EGX30) eased 0.4%, hit by a 0.7% fall in top lender Commercial International Bank (COMI.CA). Reporting by Ateeq Shariff in Bengaluru; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden, Ateeq, David Holmes Organizations: U.S, Congress, Saturday, Al Rajhi Bank, Riyad Bank, Gulf Cooperation, Saudi, Qatar Islamic Bank, Commercial International Bank, Saudi Arabia's Milling, Reuters, Thomson Locations: Saudi, Al Rajhi, Gulf, Qatar, Ateeq Shariff, Bengaluru
Most Gulf markets end lower, Egypt ekes out gains
  + stars: | 2023-05-28 | by ( ) www.reuters.com   time to read: +1 min
Most Gulf Cooperation Council countries, including Saudi, have their currencies pegged to the dollar and generally follow the Fed's policy moves, exposing the region relatively directly to any monetary tightening there. Saudi Arabia's benchmark index (.TASI) lost 0.4%, with Al Rajhi Bank (1120.SE) declining 1% and Dr Sulaiman Al-Habib Medical Services (4013.SE) finishing 1.4% lower. Outside the Gulf, Egypt's blue-chip index (.EGX30) gained 0.5%, led by an 11.3% jump in Edita Food Industries (EFID.CA). On the other hand, Egypt has deferred payments for its large wheat purchases, in some cases by months, according to a government official and traders, as the country grapples with a shortage of hard currency. Egypt is one of the world's biggest wheat importers and uses the purchases to make heavily subsidised bread available to tens of millions of people.
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