MENA shares closed Monday’s session in mixed territory as Saudi Arabia, Abu Dhabi, Dubai and Qatar equities closed in the red due to lower oil prices, while Egypt shares closed up boosted by the gains in the Financials sector.
Bahraini shares fell on Monday’s session with the primary Bahraini index BAX lost 0.78 percent or 10.996 points to end the session in the red at 1,398.650 pressured by the losses in Basic Materials and Financials sectors.
Meanwhile, Qatar shares closed the session in the red, where Doha’s main index QSI fell by 1.33 percent or 138.80 points to close at 10,302.41 pressured by losses in Financials, Industrials and Utilities sectors. Furthermore, United Development Company QPSC was the worst performer dropping 5.19 percent followed by Industries Qatar QSC which declined by 2.20 percent.
On the energy front, WTI Oil prices fell by two percent on Monday’s session to trade at 52.36 USD per barrel at 19:30 GMT after news of the closure of a crude processing unit at an Illinois refinery intensified concerns that U.S. crude stockpiles could build as gasoline works slowed. Moreover, Brent Oil prices fell to trade at 61.49 USD per barrel at 19:30 GMT.
Saudi Stock Market:
Saudi Arabia's TASI declined by 0.35 percent or 29.82 points to close Monday’s session at 8,543.39 due to the losses in Consumer Cyclicals, Industrials and Utilities sectors.
In the corporate space, Al Yamamah Steel Industries Company CJSC was the worst performer of the session dropping by 4.07 percent, after it posted a first-quarter net loss of 30.2 million Riyals compared with a profit of 6.7 million Riyals a year ago.
On the other hand, Tehama advertises, and Public Relations and Marketing Holding SJSC surged by 8.56 percent followed by Emaar the Economic City SJSC that added 4.17 percent.
United Arab Emirates Stock Market:
United Arab Emirates’ shares closed Monday’s trading session lower, with both Abu Dhabi Main index ADI and Dubai Financial Market General Index closed the session in the red.
Abu Dhabi equities closed today’s session lower, with Abu Dhabi’s leading benchmark ADI fell by 0.7 percent or 35.550 points to close at 5,046.464, pressured by losses in Utilities, Financials and Telecommunications Services sectors.
In stock news, Ras Al Khaimah Ceramics PSC was the top performer of the session adding 4.37 percent or 0.08 points
On the other hand, Al Khaleej Investment Company PJSC was the worst performer tumbling by 9.33 percent followed by Methaq Takaful Insurance Co PSC dropping by 8.39 percent.
In Dubai, the index dropped by 1.32 percent or 33.37 points, pressured by losses in Consumer Industrials and Healthcare sectors.
In stocks news, Dubai Investments dropped by six percent to a six-year low. The stock has been sliding since the firm said it had bought the 66 percent in Globalpharma it did not already own. On Monday, the firm said the value of the deal was confidential, and its disclosure was subject to GlobalPharma's consent.
Egypt Stock Market:
Egypt’s leading benchmark EGX 30 rose by 0.14 percent on Monday’s, to trade at 14,784.82 at the close, supported by Financials and Consumer Cyclicals sectors.
In stock news, Oriental Weavers Carpet Co SAE was the top performer adding 4.29 percent followed by Heliopolis Co for Housing and Development SAE which rose by 2.43 percent.
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