MENA stock markets ended Tuesday’s session mostly higher, as Saudi Arabia, Abu Dhabi, Dubai, Bahrain, and Egypt shares finished the session in the green, while Qatar’s shares closed lower.
Qatar shares closed the session in the red, where Doha main index QSI fell by 0.11 percent or 12.24 points to close at 10,715.29 pressured by Healthcare, Utilities and Telecommunications Services sectors. Meanwhile, Doha Bank QPSC was the top gainer rising by 1.6 percent. On the other hand, Commercial Bank PSQC was the worst performer dropping by 0.83 percent.
Meanwhile, Bahraini shares were up on today’s session with the primary Bahraini index BAX advancing by 0.44 percent or 6.138 points to end the session in the green at 1,403.688 supported by gains in Financials sectors.
On the energy front, WTI Oil prices tumbled by 1.3 percent on today’s session to trade at 53.85 USD per barrel at 17:00 GMT after the publication of data showing a decline in U.S. factory orders which dragged benchmark futures down. Moreover, Brent Oil prices fell to trade at 62 USD per barrel at 17:00 GMT.
Saudi Stock Market:
Saudi Arabia's TASI rose by 1.21 percent or 103.28 points to close Tuesday’s session at 8,520.64 supported by the improvement in most of the sector especially Utilities and Financials sectors which rose by 4.83 and 1.73 percent respectively.
In the corporate space, Eastern Province Cement Co SJSC stock topped gainers after surging by 8.22 percent, followed by Arabian Cement Co SJSC that added 7.08 percent.
On the other hand, MEFIC Real Estate Income Fund stock was the worst performer of the session declining by 3.27 percent followed by Saudi Arabian Amiantit Co SJSC that fell by 2.37 percent.
United Arab Emirates Stock Market:
United Arab Emirates’ shares closed today’s trading session higher, as both Abu Dhabi Main Index ADI and Dubai Financial Market General Index improved and added some gains to close the session in the green.
Abu Dhabi equities closed today’s session higher, with Abu Dhabi’s leading benchmark ADI rising by 0.180 percent to close at 5,137.302, supported by Consumer Non-Cyclicals and Telecommunications sectors.
In stock news, Ras Al Khaimah Cement Co PSC was the top performer on the session adding 5.87 percent while Bank of Sharjah PJSC was the worst performer declining by 1.81 percent.
In Dubai, the index rose by 0.54 percent or 13.64 points, supported by improvement in Utilities and Financials sectors.
In corporate space, Gulf General Investment Co PSC was the top gainer of the session adding 4.97 percent, while Emaar Development was the worst performer declining by 2.56 percent.
Egypt Stock Market:
Egyptian shares were higher on today’s session where EGX30 added 2.55 percent or 367.05 points to close at 14,733.11 boosted by the country’s major lender Commercial International Bank strong fourth-quarter earnings.
In stock news, the country's biggest lender Commercial International Bank surged by 3.9 percent after it reported fourth-quarter net profit after interest of 2.56 billion Egyptian Pounds compared to 1.87 billion Pounds a year ago followed by Global Telecom Holding added 3.3 percent reaching its highest level since July after major shareholder VEON Ltd said that it offered to buy out the firm.
On the other hand, Orascom Development Egypt SAE was the worst performer in the session declining by 2.15 percent.
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