By Ateeq Shariff
(Reuters) – Most inventory markets within the Gulf ended increased on Monday as tensions eased after Iran performed down Israel’s strikes on army targets over the weekend, saying the air assault had precipitated solely restricted injury.
The strikes bypassed Tehran’s oil and nuclear infrastructure and didn’t disrupt vitality provides, easing geopolitical tensions within the broader area.
And whereas that despatched oil costs tumbling, the regional fairness indexes gained. [O/R]
Dubai’s predominant share index superior 1.3%, led by a 3.6% leap in blue-chip developer Emaar Properties and a 2.4% rise in toll operator Salik Firm.
In Abu Dhabi, the index completed 1.1% increased, with Nationwide Marine Dredging Co surging 9% after reporting an increase in third-quarter internet revenue, together with a particular money dividend of two billion dirhams ($544.53 million).
Individually, Lulu Retail Holdings, which runs one of many Center East’s greatest hypermarket chains, stated on Monday it goals to boost as much as 5.27 billion dirhams ($1.43 billion) in what is about to be the UAE’s greatest preliminary public providing up to now this yr.
Within the United Arab Emirates, the bourses commerce from Monday to Friday not like different Gulf monetary markets which commerce from Sunday to Thursday.
Saudi Arabia’s benchmark index – which gained greater than 1.5% on Sunday – eased 0.1%, with the nation’s greatest lender Saudi Nationwide Financial institution shedding 2%.
Outdoors the Gulf, Egypt’s blue-chip index misplaced 0.1%, hit by a 1.8% fall in Fawry for Banking Know-how and Digital Cost.
Egypt has proposed an preliminary two-day ceasefire in Gaza to trade 4 Israeli hostages of Hamas for some Palestinian prisoners, Egypt’s president stated on Sunday as Israeli army strikes killed 45 Palestinians throughout the enclave.
SAUDI ARABIA eased 0.1% to 12,053
ABU DHABI rose 1.1% to 9,308
DUBAI gained 1.3% to 4,537
QATAR misplaced 0.5% to 10,504
EGYPT misplaced 0.1% to 30,774
BAHRAIN added 0.5% to 2,012
OMAN down 0.3% to 4,795
KUWAIT was up 0.2% to 7,610
($1 = 3.6729 UAE dirham)
