MIDEAST STOCKS-Dubai outperforms major Gulf bourses in 2019; Oman remains pressured - Agricultural Commodities - Reuters:
Dubai's index ended the year up more than
9%, outperforming other major Gulf markets, while Kuwait led the
region with a 32% gain and Oman fell for a third year in a row.
Dubai dropped 0.2% on Tuesday as Dubai Islamic Bank
lost 0.7% and Emirates NBD slipped 0.4%, but
it closed 9.3% up over the year, despite slumping real estate
prices.
Saudi Arabia rose 0.5%, bringing its annual gains to
7.2%. Riyad Bank added 2% on Tuesday, while Aramco
rose 0.3%, at 35.3 riyals.
Oil giant Aramco commenced trading on Dec. 11 after a
long-awaited market listing, surging 10% from the initial public
offering price of 32 riyals ($8.53). The increase helped the
company close in on the $2 trillion valuation long sought by
Saudi Crown Prince Mohammed bin Salman.
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