Major Gulf exchanges offset losses incurred early Thursday, overcoming the impact of geopolitical tensions in the region, and the Qatar Stock Exchange led the wave of collective gains.
Earlier in the day, Israeli warplanes bombed what the military called missile launch sites in southern Lebanon. in response to two missiles launched yesterday from Lebanese territory towards Israel.
The Saudi Market Index rose 0.4%, supported by a 3.1% increase in Dr. Sulaiman Al-Habib Medical Services ‘share and a 4.2% increase in Sahara Petrochemicals’ share, citing Reuters.
Food development stocks rose more than 19% per day after being listed for the first time in bag.
The World Bank said yesterday Wednesday that the economies of the Gulf Cooperation Council countries are expected to grow by 2.2% questyear, after a 4.8% contraction last year due to the pandemic and falling oil prices.
The bank indicated that it is still necessary for the Gulf Cooperation Council countries, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, to diversify their economies as oil revenues account for more than 70% of their economies. total government revenue in most of them.
The Qatar index was up 0.6%, due to a 1.2% rise by Qatar National Bank and 1.2% by Commercial Bank. Mesaieed Petrochemical has closed in rise of 0.3%.
After the close of trading, the company announced that it had recorded a net profit of 909.4 million riyals ($ 249.84 million), in increase compared to 135.1 million riyals a year ago.
The Dubai index was up 0.3%, while Emirates NBD Bank was up 1.1% and blue-chip Emaar Properties gained 0.7%.
The chief executive of the Dubai airport operator said on Wednesday that he expects an increase in passenger numbers in the coming months, after the UAE announced the easing of travel restrictions from African and Asian countries.
The UAE announced Tuesday that it would lift the ban on transit flights, including those from India.
In Abu Dhabi, the stock index was up 0.2%, supported by a 3.2% rise from Aldar Properties.
Outside the Gulf, the main equity index of the Egyptian stock market has stabilized.
The market trend was as follows:
Saudi Arabia .. The index rose 0.4% to 11.209 points
Abu Dhabi .. The index rose 0.2% to 7,419 points
Dubai .. The index rose 0.3% to 2,820 points
Qatar .. The index gained 0.5% to 10.908 points
Egypt .. The index stabilizes at 10,723 points
Bahrain .. The index rose 0.3% to 1615 points
Sultanate of Oman .. The index rose 0.2% to 4.002 points
Kuwait .. The index rose 0.5% to 7,153 points
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