June 18, 2024

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MIDEAST Shares Most key Gulf markets rise Qatar dips

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A Saudi trader observes the stock current market on screens at Falcom inventory trade company in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal Al Nasser

Most important stock markets in the Gulf rose in early trade on Sunday, with assets shares boosting the Dubai index, although Qatar bucked the trend to trade reduce.

Saudi Arabia’s benchmark index (.TASI) extra .6%, with Al Rajhi Bank (1120.SE) increasing 1.4% and SABIC Agri-Vitamins and minerals Co (2020.SE) advancing 3.9%.

Somewhere else, Lender Albilad (1140.SE) climbed 1%, as the loan company done a 3 billion riyal sukuk giving.

Dubai’s key share index (.DFMGI) rose .7%, led by a 2.3% rise in Emaar Properties (EMAR.DU) and a 3.2% leap in Emaar Malls (EMAA.DU).

Emaar Properties, Dubai’s largest outlined serious estate developer, will go ex-dividend on Tuesday.

The taking care of director of Emaar stated previously this month that the organization had initially-quarter gross sales of 6 billion dirhams, up from 2.5 billion dirhams a 12 months before.

In Abu Dhabi, the index (.ADI) rose .8%, buoyed by a 7.6% surge in aquaculture business Worldwide Keeping (IHC.Advert).

Intercontinental Keeping has gone through immediate growth throughout its significant business enterprise sectors, resulting in a sharp advancement in its financials, positioning it for extensive-phrase expansion.

The Qatari index (.QSI) fell .7%, with Commercial Lender (COMB.QA) shedding 3.3%, even though petrochemical organization Industries Qatar (IQCD.QA) retreated 1.2%.

In the preceding, Qatar’s index observed its largest intraday attain in about a 12 months just after its cabinet authorised a monthly bill to enable non-Qatari buyers to own up to 100% of listed companies’ money.

The cabinet also resolved to hold central lender liquidity assistance for community banking companies based on require as the nation faces a next wave of coronavirus bacterial infections.

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