MENA Market Report, 8th of August 2019

MENA shares were mixed on Thursday’s session. Saudi Arabia, Egypt, and Dubai’s stock markets rose, while Qatar, Abu Dhabi, and Bahrain stock market fell.

Bahraini shares fell on Thursday, where the main index BAX fell slightly by 0.4 percent to settle at 1,543.550. The Industrials sector was the top-performing sector, while the Telecommunications Services sector was the worst-performing sector.

In Qatar, Qatari equities ended today’s trading session in the red, as the primary benchmark QSI fell by 0.64 percent to finish the session at 9834.79 pressured by losses in the Energy, Financials, and Industrials sectors.

Regarding oil news, Oil surged by more than 2 percent on Thursday, on hopes that falling prices could lead to production cuts, coupled with a steadying of the yuan after a week of chaos prompted by an escalation in the United States and China trade tensions.


Saudi Stocks Exchange:

Saudi Arabia's stocks edged higher on Thursday after the jump in oil prices. Saudi Arabia Main index (TASI) rose by 0.79 percent and finished the session at 8550.23 helped by the improvement in multiple sectors, especially the Consumer Non-Cyclicals, Energy, and Utilities sectors.

In stocks news, Saudi Cement Company SJSC was the best performer in the session after it’s share rose by 6.45 percent. On the other hand, Saudi Investment Bank SJSC was the worst performer of the session after its share slipped by 6.17 percent.


United Arab Emirates Stock Market:

United Arab Emirates' shares were mixed on Thursday’s session. Dubai shares rose, while Abu Dhabi shares fell.

Abu Dhabi equities finished today's trading session in the red, where Abu Dhabi's leading benchmark ADI fell by 0.42 percent to settle at 5097.169 pressured by losses in Utilities, Telecommunications Services, and Basic Materials sectors.

In stock news, Bank of Sharjah PJSC was the best performer in the session, after its share rose by 5.98 percent, while Ras Al Khaimah National Insurance Company PSC was the worst performer after its share tumbled by 5.26 percent.

In Dubai, the main index DFM rose by 0.24 percent to settle at 2837.96 boosted by the gains in the Industrials and Financials sectors.

In stocks news, Air Arabia PJSC was the best performer as the share rose by 3.45 percent, while Arabtec Holding PJSC was the worst performer as the stock fell by 1.76 percent.


Egypt Stock Market:

Egypt's leading benchmark EGX30 surged by 2.16 percent on Thursday’s trading session, as better than expected inflation data and a host of solid corporate earnings buoyed investors ahead of the Eid holiday starting Sunday. Egyptian blue chips finished the session at 13880.57, supported by gains in Energy, Industrials, and Basic Materials sectors.

In stock news, Palm Hills Developments Company SAE surged by 8.53 percent, followed by Alexandria Mineral Oils Co SAE share that rose by 7.85 percent.

لا يقصد من المعلومات الواردة في هذا المنشور عرضا او دعوة لشراء أو بيع لأي أداة مالية وأي رأي منشور هنا يعكس أفكار موقع فقط ويمكن أن تتغير في أي وقت. يقر ويوافق المستخدمين على أن يكون هناك درجة من عدم التأكد بسبب طبيعة أي استثمار للأسهم او البضاعة أو أي شيء مماثل وبالتالي, سيتحمل المستخدم وحده كامل المسؤوليات القانونية حيث يوجد احتمالية مخاطرة عند حصول اي استثمار.