Most of MENA’s equities ended today’s session in mixed territory, while oil prices rose for the second session in a row.
Bahrain Equities closed Monday’s trading session in the green territory where its leading benchmark rose by 0.31 percent or 3.891 points to close the session up at 1,278.26, supported by the gains in Basic Materials and Financials sectors.
However, the gains in the index were limited by the losses which generated by Industrials sector and as the other sectors were flat today; only four stocks gained today and 2 shares lost, while the other 33 shares remained flat.
Moreover, Kuwait’s equities closed today’s session on positive notes where the main Benchmark Kuwait All Shares index added 0.46 percent or 4.59 points to settle up at 1,007.13, supported by the gains in Telecommunication services, Financials, and Industrial sectors while the other two sectors closed flat.
Meanwhile, Qatar’s shares closed today’s trading session in the red territory where QSI fell by 0.50 percent or 41.40 points to close the session down at 8,299.71 as the losses in Industrial and Energy Sectors have weighed on the equities. Qatar National Bank’s stock added 0.6% as last week the bank reported a sharp increase in its third-quarter earnings where its earnings rose by 5.6%.
In oil pace, oil prices rose on Monday to hit almost three-week high on the back of the increase in tensions in MENA region after Iraq pushed into the oil city of Kirkuk. Crude oil prices rose to trade at $51.89 per barrel at 15:00 GMT.
Saudi Stock Market:
Saudi equities ended today’s session up as TASI added 0.56 percent or 39.03 points to close the session higher at 6,976.97 points helped by the gains in the all sectors except the sector of Telecommunication Services as it fell by 1.13%.
Looking at specific stocks, Alinma Bank rose sharply during today’s session where it added 5.1% after the bank reported an increase in its yearly profit, where its profit jumped by 230 million riyals reaching 542 million riyals, higher than expected by 49 million riyals.
AXA Cooperative added 4.1% today’ rebounded from the losses which have generated last week after the insurance industry fell on the back of the expectations of a shakeout in the sector caused by more stringent regulations.
United Arab Emirates Stock Market:
UAE’s stocks closed today’s session in mixed territory as Abu Dhabi’s equities rose during today’s session while Dubai’s shares remained unchanged.
Abu Dhabi’s shares closed Monday’s session in positive territory as its leading Benchmark ADI added 0.11 percent or 5.13 points to settle higher at 4,523 supported by the gains in Financials sectors only.
Dubai’s Stocks were flat today as its primary benchmark DFMGI closed today’s session at 3,657.48; its gains were limited by the losses in Consumer Cyclicals and Non-Cyclicals sectors.
Egypt Stock Market:
Meanwhile, Egypt’s stocks ended today’s session in negative territory where the Egyptian primary benchmark EGX30 fell by 2.74 percent or 380.54 points to settle down at 13,525.25 points pressured by the losses in all sectors.
Moreover, Egyptian shares found pressure from the losses in the Banking sector as the central bank decided to increase the required reserve ratio before two weeks.
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