MENA shares ended Monday’s session in mixed territory as Saudi Arabia fell pressured by the Financials sector, while the United Arab Emirates' shares rose supported by Basic Materials sector.
Bahraini shares rose on today’s session, where the main index BAX added 0.55 percent or 8.371 points to settle at 1,536.055 due to the gains in Financials and Consumer Cyclicals sectors.
Qatari equities ended today’s trading session in the green as the primary benchmark QSI rose by 0.28 percent or 29.740 points to close the session at 10,602.920 due to the gains in the Basic Materials, Financials, and Energy sectors.
Regarding oil news, Oil prices edged higher on Monday as the prospect of an expected interest rate cut by the U.S. Federal Reserve overshadowed pessimism over U.S.-China trade talks and worries about slower global economic growth.
As the U.S. WTI crude futures were higher to trade at 56.66 USD per barrel around 17:30 GMT. Brent crude futures were also higher to trade at 63.52 USD per barrel around 17:30 GMT.
Saudi Stocks Exchange:
Saudi Arabia's stock market fell on Monday as the primary index TASI dropped by 1.47 percent or 130.20 points to settle at 8,729.12 due to the losses in Financials, Utilities and Telecommunications Services sectors.
In stocks news, National Company for Learning and Education SJSC was the best performer in the session, which surged by 9.97 percent to end at 25.80 followed by Al Sorayai Trading and Industrial Group Company SJSC, which rose by 9.91 percent.
On the other hand, Dallas Healthcare Company SJSC was the worst performer in the session, which dropped by 5.96 percent, followed by Eastern Province Cement Company SJSC, which tumbled by 4.09 percent.
United Arab Emirates Stock Market:
United Arab Emirates' shares settled in today’s trading session in the green as both Abu Dhabi shares, and Dubai ended higher.
Abu Dhabi equities rose on today's trading session, where Abu Dhabi's leading benchmark ADI rose by 0.3 percent or 14.329 points to end at 5,362.828 supported by the gains in all sectors except for Utilities that fell by 2.5 percent.
In stock news, Arkan Building Materials Company PJSC was the best performer in the session, as the stock boosted by 6.39 percent to end the session higher. On the other hand, Gulf Cement Co PSC was the worst performer in today session as the stock fell by 6.17 percent to settle in the red.
In Dubai, the main index DFM rose by 0.82 percent or 34.54 points to end the session at 2,880.61 supported by the gains in Basic Materials, Consumer Cyclicals, and Financials sectors.
In stocks news, Dubai National Insurance and Reinsurance Co PSC was the best performer in today as the stock surged by 13.89 percent to finish the session in the green. Meanwhile, Takaful Emarat Insurance PJSC fell by 4.14 percent.
Egypt Stock Market:
Egypt's leading benchmark EGX30 fell by 0.28 percent on Monday to settle at 13,421.91 pressured by Energy, Industrials and Basic Materials sectors.
In stock news, Egyptian Resorts Co SAE was the best performer in today session, which added 2.42 percent while Sarwa Capital Holding for Financial Investments SAE was the worst performer in the session, which dropped by 5.46 percent.