Thursday , January 28 2021

Six Arab stock exchanges sank into profitable and weak oil prices



Six Arab stock markets retreated on Sunday after gains after recent gains at recent meetings, as well as weak oil prices

"There has been a fall in the performance of the majority of regional markets, which is normal under the pressure of profits, and near the end of the disclosure era," said Mohamed El Gendi, director of technical research at Al Rajab Asset Management in Saudi Arabia .

"In general, we expect regional markets to perform well, drawing support and strength from the results of companies and banks, particularly the Gulf, that have brought benefits as a whole," he said.

The oil price currently ranging $ 70 for Brent crude oil from the peak of 2018 was $ 86 a barrel in October.

The Egyptian index was the top loser with the EGX30, which measures the performance of the 30 most active companies, down 1.18% to 13,570 units at the end of domestic and foreign sales.

In the UAE, Abu Dhabi's stock index fell 0.53% to 5002 points, with top stocks such as Abu Dhabi I and Etisalat losing ground.

The Dubai Mercantile Exchange also declined, but slowed from 0.29% to 2.817 points, due to the fall in real estate headed by Emaar Properties and Arabtec.

Saudi Bourse, the largest in the Arab world, declined as the benchmark fell 0.42%, to 7,711 units, causing the largest shares in banking and commodities.

The Jordan stock exchange fell by 0.05% to 1960 points, while industrial and services sectors lost 0.26% and 0.05% respectively.

The Bahrain stock exchange fell by the same rate, closing the general index at 1312 points, recording the lowest level in one month, under the pressure of lower service stock.

On the other hand, MSM grew by 0.28% to 4,503, while industry and services gained 0.26% and 0.23% respectively.

The Qatar stock rose by 0.21% to 10,090 points, with 4 sectors accounting for 1.32%.

In Kuwait, the index rose marginally by 0.03% to 5300 while the index rose 0.1% to 4754, the index rose by 0.05% to 5106.

Here are the performance of Arab stock exchanges:

Muscat: 0.28% to 4503 units.

Qatar: 0.21% to 10.090 points.

Kuwait: 0.03 percent to 5,300 units.

As rejected:

Egypt: 1.18% to 13,570 points.

Abu Dhabi: 0.53% to 5002 points.

Saudi Arabia rose by 0.42% to 7,711 points.

Dubai: 0.29% to 2817 points.

Jordan: 0.05% to 1960 points.

Bahrain: 0.05% to 1,312 points.

You can visit the original news here >> This news release published on the Yemen News website was published on Yemen's website


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