The Abu Dhabi Financial Market Index reaches an all-time high

Most of the Gulf stock markets have closed in rally on Monday and the Abu Dhabi index recorded its highest level ever, while the Saudi index remained stable.

The Abu Dhabi index advanced 1.1%, registering a level record, driven by a 1.7% rise in the first Abu Dhabi Bank stock, The largest bank in the country and 1.3% of the shares of International Holding Company.

Global Holding announced, on Thursday, a quarterly net profit of 2.87 billion dirhams (781.42 million dollars), in increase compared to 958.9 million dirhams a year ago.

The Dubai index was up 0.2%, with the stock of the Dubai Financial Market Company in rise of 9.9%, extending earnings to the fifth session, after the emirate announced its intention to establish a fund of market making worth two billion dirhams ($ 545 million) and initial public offerings.

The Dubai government said on Tuesday that it intends to offer shares of the Dubai Electricity and Water Authority among the ten state-owned companies that will be listed. in stock exchange, as part of plans to support trading on the local stock exchange.

The Saudi index closed flat as gains in financial stocks offset falls in petrochemicals.

Oil prices have risen in amid positive signs of global economic growth, supported by the outlook for energy demand, while Saudi Aramco raised the official selling price of crude oil.

Outside the Gulf region, the Egyptian Stock Exchange’s blue-chip index fell 0.5%, impacted by a 0.8% drop from Commercial International Bank.

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