Egyptian pound down in Thursday morning trade    Egypt's PM: Alternatives to old rent law to be ready soon    Environment ministry signs agreement to strengthen marine protection, promote ecotourism    Egypt, WHO discuss expanding health cooperation, development initiatives    Egypt, Sierra Leone discuss expanding cooperation in transport, infrastructure    Gaza under siege, fire: Resistance intensifies amid deepening humanitarian collapse    Chinese Premier Li Qiang arrives in Egypt for high-level talks    Service restoration underway after Cairo telecom fire, minister tells PM    EGX closed mostly higher on July 9    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    Egypt, Pakistan boost healthcare ties – Cabinet    UK, Egypt strengthen cooperation on green transition, eco-tourism, and environmental investments    Escalation in Gaza as ceasefire talks remain fragile amid mounting humanitarian crisis    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM, Uruguay's president discuss Gaza, trade at BRICS summit    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt teams up with private sector to boost university rankings    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Egypt's FM, China's Wang discuss Iran-Israel escalation    Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Gulf stocks plunge further as virus fears grow
Published in Amwal Al Ghad on 26 - 02 - 2020

Major Gulf stocks slid on Wednesday, with Saudi leading the losses, mirroring declines in global stocks as concerns about the spread of the coronavirus grew after the United States warned Americans to prepare for the possibility of a pandemic.
Saudi Arabia's benchmark index was down 1.3% in early trade, as all its banking shares were in the red including Al Rajhi Bank, which fell 1.1%.
Elsewhere, state-owned oil giant Saudi Aramco dipped 0.9%, while Arab National Bank fell 3.2%.
Dubai's main share index declined 1.2%. Blue-chip developer Emaar Properties decreased 1.4% and Emirates NBD Bank was down 1.5%.
Amongst others, Air Arabia extended losses from the previous session, to trade 2.8% lower. On Tuesday, the United Arab Emirates suspended all flights to and from Iran for at least a week due to the spread of the coronavirus in the Islamic republic.
The UAE has recorded 13 cases since Jan. 28; the latest two are an Iranian tourist and his wife.
The Qatari index fell 1.1%, dragged down by a 6.9% plunge in Qatar Insurance as the Gulf country's largest insurer by market value traded ex-dividend.
Qatar Islamic Bank eased 1.3% and Qatar Fuel retreated 2%.
In Abu Dhabi, the index slipped 0.1% with Abu Dhabi Islamic Bank shedding 1.8% and International Holding losing 0.9%.


Clic here to read the story from its source.