UK urges collective response to attacks on Saudi oil facilities    Saudi Arabia says full production restored within the month    Mexican embassy celebrates Independence Day with reception    'Egypt will not allow any country to impose its will on another in Ethiopian dam issue,' FM says    Cameroon's longtime FIFA official Hayatou back in African soccer work    Egypt's new listing amendments mandate more women on boards    The Latest on Israeli election: Arab leader Ayman Odeh urges high turnout in Israeli vote    Top UK court hearing challenge to Johnson's Parliament break    Inter's Conte fumes over media's fixation on formations    Egypt, Ethiopia at odds as talks over Blue Nile dam resume    PSG forwards Mbappe, Cavani ruled out of Real Madrid clash    5 plant-based soup recipes to warm your body and soul    Egypt's Ahly to train for Super Cup game against Zamalek immediately    UK to support investment in Egypt with £13mn – official    US waiting and watching on oil reserve, market well supplied: Perry    FTSE 100 steadies after Saudi attacks; Sirius Minerals plummets    President Sisi: Egyptians' awareness led to success of economic reforms    Egypt looks to develop peaceful nuclear energy capabilities – minister    European markets set for cautious open as investors focus on geopolitics, trade    Egypt says GERD talks with Ethiopia 'stumbled', next round in Khartoum in October    Egyptian navy rescues tourists aboard yacht adrift in Red Sea    Tutankhamun Opera to debut with inauguration of Grand Egyptian Museum: Zahi Hawass    Egyptian transport start-up Swvl plans IPO in 5-10 years    Egypt court sentence 6 to death for joining terrorist group, manufacturing explosives; 8 acquitted    Trump says US ‘locked and loaded' for a potential response to Saudi oil attack    Brexit will be delayed again when PM Johnson's deal falls: Nigel Farage    Egyptian gov't working to remove trash in Ismailia    'Al-Daheeh' host Ahmed El-Ghandour shortlisted for IBC's first 'Young Pioneer' award    Egypt's Zamalek suffer surprise 2-1 defeat at Senegal's Generation Foot    Egypt's Sisi discusses education, terrorism at national youth conference    Sisi to open 8th edition of the National Youth Conference Saturday    Spotify buys music production marketplace SoundBetter    Egypt's Ahly striker Amr Gamal joins Talae El-Geish for 2 seasons    Egypt's PM discusses details of Al-Hussein Mosque renovation    Egypt's Baron Empain Palace to be reopen after renovation    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Cairo's historic Tahrir square to be renovated – PM    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    

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Most major Gulf stocks lifted by financial shares
Published in Amwal Al Ghad on 20 - 08 - 2019

Major Gulf stocks rose in early trade on Tuesday, buoyed by financial shares amid steady oil on optimism that U.S.-China trade tensions could ease and stimulus measures by major economies to counter a possible global economic slowdown.
The United States said it would extend a reprieve that permits China's Huawei Technologies to buy components from U.S. companies, signalling a slight softening of the trade conflict between the world's two largest economies.
China's new lending reference rate was set slightly lower on Tuesday, while Germany said on Sunday Berlin could make available up to 50 billion euros ($55 billion) of extra spending, adding that Germany has the fiscal strength to counter any future economic crisis with full force.
Saudi Arabia's index was up 0.5 percent as banking stocks extended gains from previous sessions. Banque Saudi Fransi rose 2.3 percent and National Commercial Bank gained 0.8 percent.
The index was also underpinned by some positive earnings. Arabian Centres, which went public in May, jumped 4.1 percent after reporting a 180.4 percent increase in its first-quarter profit to 227 million riyals ($60.53 million), citing lower impairment loss and finance cost.
Saudi Research and Marketing Group gained 2.5 percent, after posting a higher second-quarter profit.
Qatar's index rose 0.3 percent in its straight third day of gains, with the Gulf's biggest lender, Qatar National Bank , gaining 1.4 percent and Ooredoo rising 1.7 percent.
Qatar's index, which is down 4.5 percent in the year-to-date, has steadied since the central bank on Thursday said Qatar's economic growth would accelerate over the next two years amid expectations of stable oil prices and continued strong exports.
In Abu Dhabi, the index advanced 0.3 percent as Emirates Telecommunication Group traded 0.6 percent higher and First Abu Dhabi Bank gained 0.3 percent.
But Abu Dhabi's only listed pharmaceutical firm Gulf Pharmaceutical Industries plunged 9.8 percent after recalling a single batch of its Laxocodyl suppository over a labelling error.
Dubai's index slipped 0.1 percent with Mashreqbank , down 6.3 percent, the top loser. ($1 = 3.7504 riyals)
Source: Reuters

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