MENA Market Report

MENA shares ended today’s trading session in the mixed territories, the Egyptian market’s main index dropped by more than 1 percent.

Bahraini stocks rose to close the session down where the main Bahraini index lost by 0.47 percent or 6.65 points to end lower at 1,416 pressured by the loss in Financials and Industrials shares. The liquidity in the market was very lacking as 1 share rose, 4 shares ended down while 36 shares remained flat.

However, Qatari equities closed Thursday’s trading session on positive notes as the primary Qatari benchmark advanced by 0.59 percent to end the session up at 9,949.02 supported by the gains which have been generated by Financials and Utilities sectors.

In oil pace, oil prices fell on Friday to end the session down, where U.S. Crude Oil dropped to settle lower at $58.95 a barrel, while Brent Oil closed down at $66.97 a barrel.

However, The U.S. crude oil remained steady on Monday to trade at $58.91 a barrel while Brent oil rose to trade at $67.26 a barrel at 19:00 GMT.

Saudi Stocks Exchange:

Saudi shares ended today’s session in the green as TASI added by 0.23 percent or 19.552 points to close up at 8,666.69 supported by the gains in Telecoms and Consumer Cyclicals shares.

Looking at individual shares, Saudi Arabia Amianttit Co was the biggest gainer as its share added 6.17 percent followed by Yamama Cement Company as its stock advanced by 3.20 percent.

On the flip side, Al Rajihi Company for Cooperative Insurance as the biggest loser as its stock fell by 7.82 percent while Wafarah for Industry and Development was the second biggest loser as its stock tumbled by 5.17 percent.

United Arab Emirates Stock Market:

United Arab Emirates’ shares closed Wednesday’s trading session in the green territories. 

Abu Dhabi equities closed today’s session higher, with Abu Dhabi’s leading benchmark ADI added 0.45 percent or 23.11 points to close at 5,177.94, boosted by gains in Utilities and Basic Materials sectors.

In stock news, Abu Dhabi National Energy was the worst performer during the session losing 6.67 percent followed by Waha Capital which fell by 3.03 percent.

In Dubai, the index rose by 0.60 percent or 15.79 points, Boosted by the gains in Consumer Cyclicals and Financials sectors.

In stocks news, Shuaa Capital PSC was the top performer in the session surging by 13.43 percent followed by Union Prosperities after its stock added 9.43 Percent.

Egypt Stock Market:

Egypt’s leading benchmark EGX30 fell significantly by 1.15 percent on today’s session, to trade at 14,670.80 at the close, pressured by the losses in all sectors.

In stock news, Egypt Kuwait Holding was the top performer adding 2.24 percent followed by Orascom Developments which rose by 0.54 percent. On the flip side, Egyptian Chemicals Industrials Co was the session’s worst performer losing 4.96 percent. 

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