Latest News
- Amir Of Kuwait And Jordan King Renew Commitment To Regional Secu...
- 37 Arrested With Narcotics And Firearms
- Outrage Over Candidate's Arrest
- Six Stores Shut Down In Jahra For Selling Fake Goods
- Peddlers Caught With Drug Pills And Crystal Meth
- PAFN Shuts Down Restaurants And Bakeries Over Violations
- MoI Officer And Lawyer Jailed On Fraud Charges For Bad Cheques
- Thousands Of Bangladeshis Gathered To Pray For Rain
- Kuwait University Symposium Addresses Student Counselors' Role I...
- Kuwait Affirms The Importance Of Group Work In Addressing Common...
- Urgent Call For Kuwaitization: Civil Service Commission Aims For...
- Kuwait Halts Work Permits For Egyptian Workers Amidst New Regula...
Gulf Markets Start Week On Strong Footing, Egypt Slips Back
Strength in international equities markets at the end of last week helped lift share prices in the Gulf on Sunday with markets most exposed to foreign capital inflows outperforming, while Egypt slipped on profit-taking.
Dubai's index climbed 1.1 percent. Four-fifths of the traded shares advanced, with companies which have not yet reported quarterly earnings attracting the most volume. Builder Arabtec climbed 3.4 percent and amusement park developer Dubai Parks and Resorts added 1.7 percent. Blue chips helped push Qatar's index up 1.0 percent with Vodafone Qatar advancing 2.4 percent. Pertrochemical conglomerate Industries Qatar, which reported strong earnings late last week, jumped 3.9 percent.
Abu Dhabi's index edged up 0.4 percent as local traders bought small and mid-cap stocks. Insurer Methaq Takaful Insurance jumped 8.1 percent in heavy trade and Abu Dhabi National Energy rose 2.0 percent. Â In Saudi Arabia the equities index rose 0.7 percent as all 14 petrochemical stocks advanced; heavyweight Saudi Basic Industries added 0.6 percent.
Nama Chemicals, a small petrochemical producer, added 3.3 percent after it announced its board had recommended a 30 percent share capital increase through a rights issue valued at 400 million riyals ($106.7 million). The company said proceeds would be used to finance the production of new speciality chemicals. Large-cap companies in other sectors also gained with telecommunications operator Etihad Etisalat (Mobily) climbing 4.1 percent and retailer Jarir Marketing advancing 4.3 percent.
Â
SOURCE : ARABIANBUSINESS
Trending News
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Gathering For Eid Al-Fitr Prayers: Kuwaiti Citizen...
10 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
Comments Post Comment